What is often a consequence of poor project estimating?

The consequence of poor project estimating often manifests as unanticipated project delays and cost overruns. Accurate estimating is crucial in construction projects since it provides a blueprint for the expected timeline and budget. When estimates are flawed or overly optimistic, it can lead to a misallocation of resources, inadequate scheduling, and unforeseen complications arising during the project's execution. This can push the project past its intended budget and schedule, thus causing significant delays and costs that were not originally anticipated. These scenarios often create stress on project management teams and can erode trust with stakeholders, who may rely heavily on estimates to plan their own investments and expectations related to the project's outcomes. Effective estimating practices are essential to avoid these pitfalls and ensure smoother project delivery.