Planning fallacy
The Sydney Opera House was expected to be completed in 1963. A scaled-down version opened in 1973, a decade later. The original cost was estimated at $7 million, but its delayed completion led to a cost of $102 million.
Sydney Opera House Trust
The Trust operates as one of the State's premier cultural institutions within the Arts NSW portfolio. It is constituted as a body corporate under the "Sydney Opera House Trust Act 1961". It has 10 members appointed by the Governor of New South Wales on the nomination of the Minister for the Arts. The Trustees must include at least two persons who have knowledge of or experience in the performing arts. A Trustee holds office for three years and is eligible for reappointment for no more than three consecutive terms.