A couple of lessons back, we were asked to create and pitch our own film idea and then plan budgeting for it. My budgeting looked a little like this:
Director - Richard LaGravenese, £2million overallEditor – Andrew Mondshein, £10,000 a week (10 weeks)
Location – Ruislip College, £100,000
Cinematographer – Barry Ackroyd, £50,000 overall
Cast – Open Auditions, £1,000,000 overall - Venue: Main hall at Ruislip College (Place of Filming)
Script Writer – Will Fetters, £50,000 overall
Plus the below the line costs, amounting to a maximum of £1.7million
We were then asked to look at our budgets again, and then pretend that one of our financers had oulled out of the deal and our budgets dropped by a third. We we asked to respond to this and show our new figures. Without below the line costs, our budget was £33,333 pounds under budget. So we could afford to keep ours the same. However, we did come up with some slightly different plans, just to be safe. We said we'd lower the directors cost by £500,000 and if Richard LaGravenese was not happy with that deal, then we'd look at some B-list directors who could produce this film at the same quality, but costing a lot less money. This would make us £533,333 under our budget and give us plenty of money to spend on below the line costs.
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