Re: “Will $92.8M be enough?” Jan. 4.
No. No project will ever be 100 per cent on budget.
Those of us who work in project management understand that project management is not a science but an art. There is no mathematical formula to calculate the true cost of a project.
Projects are inherently risky: They deal with assumptions and rely on knowledge that construction companies have at the time of the bidding. The question should be: How accurate is the estimate?
Accepted standards call for a plus- or minus-10 per cent deviation at the design phase. That’s what we should expect and hold the construction company accountable for.
If they go on the minus side, good for them and good for the taxpayers. If they go on the plus side, it is part of the risk and it also has to be accepted.
Daniel Sanchez
Victoria
