10/09/2013 00:00
View Point 05/09/13 Ray Fleming
Dear Sir,
You commented on the cost of the UK Olympics jumping from 2.5 to 9 billion. It is normal. The true costs probably didn’t jump so much as stay hidden/censored at the “point of sale” when bidding before the IOC. It happened in my own experience in the North Sea Oil industry when a 2000 million dollar project meticulously costed was arbitrarily marked down to 1500 to ensure the partners gave their go ahead and the Operating Company got the kudos. As you may imagine the actual cost hit the higher level.
Mike Lillico
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