Singapore YOG & London Olympics: A Tale of 2 Budgets
The UK Sports Minister Hugh Robertson has revealed that the expenses for the London Olympics would be within the budget allocated for the games. A budget of 9.3 billion pounds was set in 2007. Hugh Robertson has indicated that about 500 million pounds would be returned to the Treasury as they are within the budget. This is how you come out smelling like a rose. Set a high budget with a huge contingency in the budget (2 billion pounds) and then keep your spending within the budget. You get lauded for your fiscal responsibility. Compare that to the heat receieved by Singapore's former Minister for Community Development, Youth and Sports, Vivian Balakrishnan. The budget set for the Youth Olympic Games was $104 million and the spending went up to $387 million. Although the Olympic Games cannot be compared with the Youth Olympic Games in terms of logistics and expenses, I am trying to draw a comparison with the way expectation management is done. The organising committee for th...