A budget prepared today may not reflect costs when later stages are delivered. Materials, labour and transport can all change during an extended programme.

Understand which prices are fixed and which remain estimates. Supplier quote validity and contract provisions can affect the amount ultimately payable.

Review contingencies and repayment assumptions as costs change. Increasing borrowing is only one possible response; scope and timing may also need reconsideration.

Key takeaways

  • A budget prepared today may not reflect costs when later stages are delivered.
  • Understand which prices are fixed and which remain estimates.
  • Review contingencies and repayment assumptions as costs change.