Find an academic or research article that analyzes an engineering project from a cost estimating and budgeting point of view. After reading the common reasons listed below for why cost escalation occurs, please determine what part the reasons below might have played in the engineering project that you selected. Please give examples how the reasons below contributed to potential cost escalation on the project that you researched and note any potential solutions you could envision for mitigating the cost escalation.

Cost escalation may occur due to several reasons:

Uncertainty and lack of accurate information lack of clear project objectives, scope, requirements, etc. E.g. Space or defense projects, historical renovations, etc.

Changes in design or requirements changes by customer, not considering overall impact of the system design on the environment, etc. e.g. redesign of a floor plan

Economic and social variables in the environment labor strikes or labor shortage, material shortage, inflation, etc.

Work inefficiency, poor communication, and lack of control lack of project planning and management.

Ego involvement of the estimator lack of experienced, professional estimation of costs.

Type of project contract fixed price contracts (which force contractors to control costs), cost-plus contracts (which allow costs to escalate and profits to be added).