Project Failure Files: Delaying Budget Discussions

In Episode 52 of the Project Failure Files weekly webcast, our focus was “Underestimating Project Costs,” in which Sharon and I tackled the all-too-common mistake of underestimating or ignoring project costs. We discussed how delayed budget recognition, gut-driven estimates, and a reluctance to engage finance early can cause even well-intentioned projects to spiral into overspending. The discussion kicked off with how this issue often signals deeper problems with leadership transparency and accountability.

Sharon and I shared real-world stories of financial blind spots, from untracked change orders to vendor costs ballooning unexpectedly. We emphasized that failing to integrate budget visibility into daily project operations—relying solely on high-level summaries or intuition—can leave teams vulnerable to mid-project surprises, loss of trust, and costly rework. The episode highlights the ripple effect poor cost tracking can have on morale, resource allocation, and organizational credibility.

To combat this, Sharon and I advocate for embedding financial checkpoints into timelines, using real-time dashboards, and training project managers to think financially—not just in tasks and timelines. We outlined practical tools and behaviors that help leaders forecast accurately, flag risks early, and establish a culture of financial literacy across teams. Our message is clear: stop pretending, start tracking.

Enjoy the episode!

Be sure to tune in next Monday, June 16th at 9am Pacific for Episode 53 of our weekly series as Sharon and I discuss “Deliverables That Don’t Deliver.“ Hope you can join us on LinkedIn or YouTube.