The Closing Ceremony, and all the Sporting Drama in between. But another, less welcome tradition has also emerged the Spiralling Cost Of Playing Host to the games. After a period of Keeping Costs down, a new University Of Oxford study reveals that since 2008, Cost Overruns are back. Host cities like paris are locked in to spending a lot more than they were expecting to when they bid for the games. According to this academic analysis, the last three Olympic Games combined cost 51 billion. Budgets overran by 185 . The Summer Games in paris this year, according to the report, was meant to cost 3. 5 billion euros. Instead, that cost has spiralled to 8. 8 Billion euros. And the next games in 2028 thats in Los Angeles Theyve already busted their original budget, revising an initial cost of 5. 3 billion up to 6. 8 Billion, and theres still four years to go. But its notjust an olympics issue. The commonwealth games, two years from now, may not happen at all, after the australian state of victo
From paris, and ill talk to the boss of one of londons leading high Tech Business spaces, which was the olympic Broadcast Centre in 2012. And later in the show, hes produced and been the creative director of more Olympic Ceremonies than anyone else. Marco balich tells me about The Business Of Pitching for and producing the greatest show on earth. Plus, she won two Gold Medals in the pool before turning her passion into a nationwide business. Britains Rebecca Adlington is our golden guest on this Talking Business olympics special. Welcome to Talking Business. Now, the Olympic Flame is lit in paris and the Summer Games are on. The games have many grand traditions, from the journey of the torch from greece to the host city, to the Closing Ceremony, and all the Sporting Drama in between. But another, less welcome tradition has also emerged, the spiralling cost of Playing Host to the games. After a period of Keeping Costs down, a new University Of Oxford study reveals that since 2008, Cost
Its important for members to understand the efforts and the stakeholders. Its also important where faa is now and where it can and should go in the future in terms of nexgen. When i like fresh to discuss today in part in relation to the recommendations from the Department Transportation Inspector general reportt in march and found shortcomings of management in the current estimate of nexgen benefits to be 100 billion which is 113 billion less than the estimate. It shows us benefit is important to note the estimated 100 billion so far is the sole projected cost which is 36 billion. When it comes to benefits the Ig Report and as a result they have a clear view how investments will have those operations and then encountering delays things like that performancebased navigation and procedures the final Report Issued Recommendations and is a really began implementing to measure performance whereby projections and interim implementation analysis is incorporated to prioritize those programs an
100 billion which is 113 113 billion less than the 2007 estimate. So while estimate shows less benefit is important, and that the estimated 100 billion in benefit is to far exceed the total projected cost of nextgen through 2030 which is 36 billion. When comes to benefit to the Ig Report also found faa has not transparently stated Nextgen Benefits to date. As a result stakeholders to not have a clear view of how investments and modernization will translate to quantifiable benefits for operations. Lastly the as they continue to encounter delays implementing things like the performancebased navigation procedures, or pbms as we call them. The final Report Issued Recommendations at the is concurred with and is already begin implementing. The faa should publish metrics, measure performance, as they should develop a process whereby in a just a benefit projections and interim implementation and those who are incorporated prioritizing nextgen programs, and third faa should regularly update sta
Its important for members of the Subcommittee And Congress to understand the status of efforts and the input from stakeholders. Its also important because knowing what faa is now will then forward at and should go in the future in terms of nextgen. So id like for us to discuss debate in part is where the fas in relation to the recommendations from the department of Transportation Inspector general report issued in march. The report found shortcomings in management, of nextgen programs and that the faas current estimate of Endstate Nextgen benefits will be about 100 billion which is 113 113 billion less than the 2007 estimate. So while estimate shows less benefit is important, and that the estimated 100 billion in benefit is to far exceed the total projected cost of nextgen through 2030 which is 36 billion. When comes to benefit to the Ig Report also found faa has not transparently stated Nextgen Benefits to date. As a result stakeholders to not have a clear view of how investments and