A design idea for a theater includes a cost estimate. Cost estimates are part of project control, and they are used to estimate quantities, costs and prices of resources and materials needed within the scope of a project.
The accuracy of an estimate depends heavily on the level of detail applied: as the project becomes more sharply defined, so does the cost estimate. A good cost estimate gives administrators the necessary tools to make decisions about investments, to choose between multiple options and to set a budget at the beginning of a project. In the further course of a project, the cost estimate remains important for budget monitoring; by interim adjustment or modification of the estimate, a project can still be steered to a certain extent. In the execution phase of a project, a cost estimate is used to measure the performance of a project.
For advice on cost estimation and budget monitoring for your theatre or stage or cultural venue, contact PBTA.
