budget overruns

Budget overruns occur when actual expenses exceed the allocated budget. They require investigation and corrective action to bring spending back in line with financial plans.

What are the potential risks and challenges in custom software development?

Custom software development comes with its own set of risks and challenges. Some potential risks include scope creep, budget overruns, integration issues, and security vulnerabilities. Challenges may arise in project management, requirement gathering, and maintaining code quality. In addition, the need for continuous updates and support can also pose challenges. To mitigate these risks and address challenges, it is important to have a well-defined scope, clear communication with stakeholders, skilled development team, and adherence to best practices in software development.

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