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Rob Wright
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Rob Wright
2020-07-10 13:40
Thank you very much for the question. I can try to unpack that as clearly as possible. It is an important question.
One thing I would say is that the costing report that you reference was conducted by an independent costing firm, which used industry best practices for this costing effort. There are two key things. Yes, these types of contingencies are normal, especially for projects at this stage. I can clarify that a little further. Additionally, this is built upon 15 years of delivery of projects on the Hill, which has informed the different types of contingencies that result in projects coming in on budget.
The design contingency is an element for the initial stages of the project. This cost estimate was developed at a point in time before the completion of schematic design, so early stages and before some of the key decisions have been made by Parliament. There are a number of unknowns that remain. As we move into detailed design, that design contingency will be kind of ended in the next 18-month to two-year period. Then that will become a certainty from a design perspective. So the design contingency will be kind of used up, or not, over the next 18 to 24 months as we move through the design.
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