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View Mark Strahl Profile
CPC (BC)
Finally, I want to talk a bit about the costing.
The building and construction costs are estimated at $530 million, but a further $203.5 million in various contingencies and escalation has been added, which is about 38% of the cost. Is it normal for nearly 40% to be budgeted for contingencies and escalation? One of the line items, $54 million, is called “escalation to mid-point of construction”. I don't know what that means, and I'd like to understand that.
Again, is it normal for a procurement project to have a 40% escalation clause built into it, and what does that particular “escalation to mid-point of construction” mean?
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