Total Anticipated Final Cost 7,267
Contingency
In the quarter, £75m in Programme Contingency was allocated to the ODA’s budget to help meet the expected reduction in forecast receipts for the land adjoining the Olympic Village, as described on page 24. This is in addition to the £13m released from Funders’ Contingency in February for Park Operations, as reported in the February 2010 Annual Report.
The gross allocation of contingency on the project to date is therefore £790m, leaving a contingency balance of £1.182bn. The net allocation of contingency is £466m, assuming the £324m additional funding made available in May to the Olympic Village from contingency is repaid from the future sale of Olympic Village homes.
The venues and infrastructure programme to the Games is now over 65 per cent complete. Accordingly, there is the likelihood of a reduced requirement for Programme Contingency in the future, which the ODA assesses has fallen to £580m. This compares with the total Programme Contingency available of £613m, generating headroom of £33m.
It is expected that some contingency will be needed once more accurate cost estimates of Park Operations have been developed.
Dostları ilə paylaş: | 
