Cost figures for permanent venues, temporary venues, infrastructure and the Olympic Village were all taken from the Candidate File submitted by London 2012 to the International Olympic Committee in July 2004.
The best case cost for these items assumes that each comes in 5% under budget or achieves a 5% cost reduction, except for the Village, where in the best case it is assumed the Stratford City developer will build it for a fee as yet to be agreed. Culture secretary Tessa Jowell said this week the government had budgeted for £500M, including the cost of building the broadcast and media centre as a permanent structure.
The regeneration costs are based on the extra £1bn in funding secured by the ODA from the Department for Communities & Local Government, with a 50% increase assumed in the worst case scenario, predicted by London Assembly members. Security costs are taken from a range of previous Games' figures.
Final 2012 prices are calculated with compound tender price inflation rates on a spend level aligned to the ODA's construction programme.
Contingency levels are based on those stated by London mayor Ken Livingstone.