Last week we (as well as many other blogs and news outlets) posted about how The World Trade Center Transportation Hub project was dramatically over-budget. Construction projects rife with cost overruns are not an American issue but a global one. Below is a list of the countries with the most…
7 posts tagged
busted budgets
Busted Budgets: Budapest Metro Line 4
At its completion in March of 2014, the Budapest Metro Line 4 was two years past deadline and 4.5 times over-budget. On opening day, Hungarian Prime Minister, Viktor Orban, joked about the construction delays when he said, “I myself remember the once popular joke that Chuck Norris has already…
Busted Budgets: Brazil World Cup Stadiums
It has gotten pretty scary cold here in New York City and as we dream of warmer weather we’d like to share this seriously scary budget with you. The Brazil World Cup Stadiums were not only controversial but very over-budget. The original budget was $1,100,000,000 but…
Busted Budgets: Scottish Parliament Building
Happy Halloween! Here’s something scary: the Scottish Parliament Building was 935% over budget and 3 years past its 2001 deadline. So as the Scots would say, “keep the heid!” (“don’t lose your head, stay calm”). Use a system like BuildingBlok that tracks all of your construction documents for…
Busted Budgets: International Space Station
The construction of the most famous and advanced research laboratory orbiting planet earth was indeed a historical success but was 186% over-budget. There were so many project delays that the 16 countries involved were afraid it would never be completed. The International Space Station was finally completed in 2011, 6…
Busted Budgets: Empire State Building
We feel that our second post in the Busted Budgets series is especially appropriate because BuildingBlok calls New York City home! The Empire State Building was built in one year, from 1930 to 1931. The original budget was $386,342,340 and ended up costing $772,684,680. To borrow…