The consortium, headed by Spain's Sacyr with Italian, Belgian and Panamanian partners, has threatened to stop work on the $5.25 billion project unless the PCA pays for big cost overruns (a deadline to settle the impasse came and went this week).
There can not be any more JWST type of gloated budget overrun and miss deadlines measure in years.
Dr. Cooper later called it "a disaster" for its cost overruns and missed deadlines.
Set a penalty clause if doing extensive work – say, £500 a week – should the work overrun an agreed deadline.
Citing a plague of "cost overruns and missed deadlines," Homeland Security Secretary Janet Napolitano said Tuesday that she would cut millions of dollars intended for a high-tech "virtual fence" along the Mexican border that has produced little more than headaches for the federal government.
The construction of a massive new headquarters for the Department of Homeland Security, already more than $1.5 billion over budget and 11 years behind schedule, may face even more overruns and missed deadlines because the government has still not developed reliable cost estimates, federal auditors said Friday.
Originally intended to be in place by 2009, the endeavor was plagued with cost overruns and missed deadlines and wound up costing $1 billion before it was canceled.
Whether it's IT contracts, infrastructure construction or military munitions, we can all think of far too many examples of missed deadlines and overrun budgets.
But "[t]he decision was not unexpected: In August, NSF shrunk NEON's size and scope because of a projected $80 million overrun and repeatedly missed deadlines".
Lawmakers have begun to blame each other for the problems, which include missed deadlines, cost overruns and poor service.
They've endured a fair amount of adversity themselves: the withdrawal of two star Greek sprinters in a drug-test furor; media criticism of largely empty arenas; cost overruns and blown construction deadlines.
