Rabello Engineering’s Post

💡DID YOU KNOW?💡 💸 From 7 to 102 Million: The Sydney Opera House Budget Leap! 💸 The original budget for the Sydney Opera House was AUD 7 million, but by the time it was completed in 1973, the cost had ballooned to AUD 102 million!!! 😲 This illustrates a phenomenon known as "cost overrun," which is quite common in large projects, where the actual cost far exceeds the initial estimates. The Sydney Opera House is a famous example, showcasing how difficult it can be to accurately estimate the total cost of a big project. Predicting the total cost of complex projects involves a combination of thorough planning, continuous monitoring, and flexibility. It requires a balance between detailed upfront planning and adaptability to change! #ProjectManagement #CostPlanning #SydneyOperaHouse #CostEstimation #RabelloEngineering

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