This will ensure that the production does not come up short when the post-production phase is complete. By taking the proper steps and being diligent during the budgeting process, film and television productions can be completed within the budget and to the highest of quality.
That said there are different types of Budget
Amort & Pattern/Episodic Budgets (multi episodic TV) – Link
Single project (one off TV project or film)
But further to this, when thinking about key areas of your budget, there are two types of costs.
Weekly Costs
These are recurring costs that are based on a weekly rate that keep the project running – such as:
Wages and fringes (employer tax and NI, pension etc) for the editorial and post crew.
Cost of hiring the cutting rooms, the Avid editing kit and media storage.
General running costs like box rental, internet and phones.
The total of these costs can be combined into a weekly ”burn rate” which gives an idea of the total additional cost when a schedule extends.
Per Bid, Activity or Process
These costs are associated with a process or activity and are typically costed in a bid – such as:
Titles Design
Visual effects
Online work
Color timing/Grading
Sound Mixing
These bids vary based on creative decisions and technical workflows. The amounts within these bids will be based on unit amounts – such as 20 hours of online, or 3 days of mixing.
These are not weekly costs that typically stretch with a schedule extension, however these costs can grow when these processes themselves overrun.
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