Film Directors : Direct the money Before the Money Directs You
Most Film Directors have elected to stay away from film budgets and production costs. The heavy grinding Should be left to accountants : but, let's lay it on the table:
The Film Director is in the helm of a big money-burning machine. It is the Film Director's job to produce his/her vision of the software : on time and on budget. At his service is a team of film production experts (the Line Producer, Unit Production Manager, the AD team, Production Accountant, etc. ) all there to assist the Film Director to do just that.
Film Directors make it their business to understand the basic functions of on-set filmmaking, without being able to fully light a group, or operate a crane, or focus a steadicam Guns Akimbo. In the same spirit, the Film Director must understand the basics of Budgeting and the extremely important Each week Cost Revealing process. Every creative decision involves money. It's only wise practice to learn to translate creative ideas into costs.
Experienced Directors know of the Each week Cost Report. If you're not yet familiar with it, let me introduce it to you:
The Each week Cost Report informs all Producers, Dojo Management and Financiers of the costs you're investing and how those costs compare to the Approved Budget. If you are unable to challenge, or defend, the final thoughts of those who read that financial 'Report Card' (that is, those who offer the purse strings) your capacity control your career is significantly damaged.
Find a comfort and ease where you can, at the very least, know what to ask during the Budgeting phase, and have a good understanding of how you can trade-off one cost overrun with a benefits in another area. Know how to formulate general concepts of trading off costs to arrive at your vision and you'll impress the money belts off the Dojo Management.
Picture the following scenario: You're the Film Director of an Independent Film Production. You've shot the exteriors needed in the software and you've seen the dailies; however, you know that there's a better shot of the particular exterior in Ok that would give the perfect hook to the opening of your film.
You know that you can tell the producers of this on a creative planes. But, you also know that most producers will shudder at the task of dropping that bombshell on the Financiers/Bonding Company that you need to dip into the closely safeguarded Contingency funds. (Oh, did I tell you that we're going to Ok.