Quote:
Originally Posted by gasman
At this point very little detailed planning has gone into what actually needs to be done for renovations or new facilities, sure they have some broad understanding of the projects they need to do, but they aren't in a position to have a firm estimate for the work.
Contingency isn't a slush fund for going over budget. It is an amount that is included in all estimates that is expected to be spent, it just hasn't been allocated to a specific cost bin. Including contingency this estimate is at best +/- 50%.
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Absolutely untrue.
The Bidco budget was built by asking the venue managers what needs to be done and having them create the estimates. Similarly the security budget was built by asking CPS and RCMP to create their own estimated costs based on previous events.
As for the contingency fund, that is for unforseen spending on top of those budgets. It does not get used if not needed.