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Costs budgeting provides some level of certainty - surely nobody can deny that?

Compared to the chaos around the time of its inception, I'd say budgeting is working ok. Certainly, I'd say it is preferable to fixed costs at the lower end of the multi-track - the latter, if as rigid as previous fixed costs regimes we've seen, would undoubtedly lead to satellite litigation and unjust results in case of particular complexity or importance.