Can project mgmt implementation reduce cost overrun?

In CNBC-TV18's show Project management - Imperative for India's growth, we try and understand whether adoption of project management practice can bring down the project cost overrun number drastically and the saved money be deployed effectively elsewhere.
 
Of the 555 projects implemented across the country, 190 projects are facing cost overrun of nearly 60% working out to Rs 1,30,000 crore.
 
A panel comprised of BK Batra, deputy managing director, IDBI Bank, Suneet Maheshwari, chief executive officer and managing director, L&T Infrastructure Finance Company, Rajeev Batra, partner Risk Consulting, KPMG and Amitabh Kant, chief executive officer and managing director, Delhi-Mumbai Industrial Corridor Development Corporation will help in understanding this.