Study Finds Flaws In Original Cost Estimates For Rose Bowl Renovation Plan
Project team officials "undervalued the Rose Bowl renovation" by about $50M from the outset "while certain decisions left the Rose Bowl Operating Co. open to increased risk," according to an independent preliminary review cited by Brenda Gazzar of the SAN GABRIEL VALLEY TRIBUNE. The review was conducted by Heery International to "examine unanticipated costs and glean future lessons." Since the original plan to renovate the Rose Bowl was approved in October '10, its estimated price tag has "ballooned" from $152M to about $195M. Heery Project Dir Daniel Adams said that the majority of the budget gap "is not the result of cost overruns." Rather, the RBOC report shows that the budget gap is due to "deficiencies in the original project budget." Pasadena City Council member and RBOC President Victor Gordo said, "What the report establishes is a combination of incorrect estimating, timelines that were too aggressive, and a very complex project caused us to have a budget that was inadequate. If there is a silver lining, it's two things. We're getting a very good product, and #2, these aren't overruns." The early review also found that the RBOC is "paying fair market value for the work's planned scope" (SAN GABRIEL VALLEY TRIBUNE, 2/6).