I've had a couple of producers, the kind with hardware on their shelves, give me guesstimates on what my two projects would cost. Their numbers were pretty similar. But I've been wanting a more detailed look at the budgets to see if there's anything I can cut or should add. To accomplish that, I've been messing around with AI.
This has been, to use the polite word, frustrating. Does anyone have an AI program they trust or a method of working it out for myself?
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I haven't heard of any AI that's been trained and vetted on budgets. I noted on your profile you're in the Chicago area. Reach out to your local and state film commission and find a UPM, Line Producer, AD, or Accountant and have them do a budget for you. Yes, you'll have to pay them. Budgets are not something to be tinkered with unless you have a background in understanding how they're created, and what production needs influence the numbers.
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Bill - I agree with what Lindbergh E Hollingsworth said, I'm not sure if trusting AI to do a budget is the smartest thing for a project considering all the nuances like union costs, contingencies, etc. Unless do you mean using AI for certain parts of your production (ie. post production work, etc.) and you're working in those costs into your budget?
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Lindbergh E Hollingsworth and Amanda Toney, thank you. That was my next step.
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Hi Bill McCormick - I couldn't agree with Amanda Toney and Lindbergh E Hollingsworth more. Budgets are not finite - they are organic documents designed with specifics in mind - creative goals and financial realities - and they evolve and change over the course of a production based on dozens of factors. It is a process that experience, nuance and a real-world understanding of how things happen matters greatly, and its not something to trust to AI IMHO. A line producer who has made films in your budget range before is your best bet for sure.
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Bill McCormick, in my opinion, "AI: has gotten advanced but reliance can be a risky. I believe your title sums it up well, "A Guestimated Budget", It may be used for an average, however I've never used it, will like to know who does.
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Eon C. Rambally, so I'm clear: this was meant for my personal use. I have gross numbers from a couple of producers who have done blockbuster work, but few specifics. I'm trying to find out if there's something hanging in the weeds that's scaring off potential investors or producers.
All that said, I haven't found anyone using AI, either.
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I think most projects can be done for most budgets, depending on what you cut out or are willing to compromise on to pull off.
Regarding AI, it's not going to use common sense and logic. Ask AI how to bake a turkey and you maight get a weird response.
The bigger question is, what can you realistically raise? Once you know that, build a budget around it or hire a producer to make something happen.
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Thanks, everyone. I found a human who was able to break things into digestible chunks.
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Great to hear you found a human. A line producer with experience knows how to break down a script and what questions to ask when it comes to figuring out practicalities of cost.
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Agreed. I'm a big believer in these humans!!! Keep us informed of your progress on the project, Bill McCormick.
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AI is absolutely NOT going to help you. If you want a reliable projection, you need to hire an actual Line Producer. Producers eyeballing something won't be accurate or useful in production.
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Shadow Dragu-Mihai, Esq., Ipg as I noted above, I ended up working with humans.