Definition, Meaning & Synonyms

cost-overrun

noun

/kɔːstˈoʊvərʌn/

Definition

An excess in costs beyond what was originally planned or budgeted.

Examples

The construction project experienced a significant cost-overrun due to unexpected material price increases.
The company had to revise its budget after realizing the cost-overrun in their latest product launch.
To avoid a cost-overrun, project managers implemented stricter financial controls.

Meaning

Cost-overrun refers to the situation where a project or operation exceeds its expected financial budget, resulting in additional expenditures that were not anticipated.