Recent works by Ahiaga-Dagbui and Smith suggests an alternative to what is traditionally seen as an overrun in the construction field.
Four types of explanation for cost overrun exist: technical, psychological, political-economic, value engineering.
Technical explanations account for cost overrun in terms of imperfect forecasting techniques, inadequate data, etc.
Finally, political-economic explanations see overrun as the result of strategic misrepresentation of scope or budgets.
[6] Also, a recent study has suggested that principles of chaos theory can be employed to understand how cost overruns emerge in megaprojects.
[7] This paper seeks to reclassify megaprojects as chaotic systems that are nonlinear and therefore difficult to predict.