Why is this all so important? - 3

• Is the project being properly accounted for?

  • Especially if public funds are involved
  • cost and schedule overruns will be hotly debated!
• If the project is of long duration, how is inflation being accounted for?

  • Be careful to distinguish between "as spent funds", the original "base budget" and the "current inflation-adjusted budget"
  • Draw-down from the contingency allowance will add further complications

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