The State Of Victoria And The City Council - 933 Words

Most of the project fund was supported by the City, State and Federal. The project was originally funded $ 50 million AUD each from both the State of Victoria and the City Council. It was estimated to cost between $ 100 to $ 150 million AUD. Later at its completion, the total final costs was blown out by $ 300 million AUD on top of $ 150 million AUD, reaching at $ 450 million AUD and it was further projected that the final cost will reach at $ 470 million AUD (Misiak 2003). As a result, The State had to wrapped up the budget overruns by giving another $ 230 million to cover the prolongation of project schedule delay. Table 2: Total final costs for Federation Square (Misiak 2003) Some of the causes were identified for budget overrun: (1) Major scope changes were identified such as the angular shard deployment and addition of a new program (the Art Museum) during the construction stage. (2) Cost variation associated with incomplete documentation. (3) Politic aspects and subsequent delays and design alterations as described above. (4) Underestimation of the complexity of the project. (5) Increase in design standards for the support deck. (6) Delays due to labour disputes. (7) Presume an optimistic scenario for unrealistic cost projection Analysis and discussion: An example has been cited by Flyvbjerg (2014) that shared the similar trend with the Federation Square Project. Channel Tunnel was seen as a highly beneficial project to both economically and financially. AtShow MoreRelatedContributions and Current Problems Faced by the Boston Latino Community in Villa Victoria1018 Words   |  4 Pagesï » ¿Contributions and Current Problems Faced by the Boston Latino Community in Villa Victoria Introduction As the United States continues to experience significant shifts in its demographic composition, the search for viable community-level culturally sensitive models has assumed new importance and relevance in recent years. 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