Cost Overruns and Demand Shortfalls in Urban Rail and Other Infrastructure
Risk, including economic risk, is increasingly a concern for public policy and management. The possibility of dealing effectively with risk is hampered, however, by lack of a sound empirical basis for risk assessment and management. This article demonstrates the general point for cost and demand ris...
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| Formaat: | Journal article |
| Gepubliceerd in: |
Taylor and Francis
2007
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| _version_ | 1826297135988998144 |
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| author | Flyvbjerg, B |
| author_facet | Flyvbjerg, B |
| author_sort | Flyvbjerg, B |
| collection | OXFORD |
| description | Risk, including economic risk, is increasingly a concern for public policy and management. The possibility of dealing effectively with risk is hampered, however, by lack of a sound empirical basis for risk assessment and management. This article demonstrates the general point for cost and demand risks in urban rail projects. The article presents empirical evidence that allow valid economic risk assessment and management of urban rail projects, including benchmarking of individual or groups of projects. Benchmarking of the Copenhagen Metro is presented as a case in point. The approach developed is proposed as a model for other types of policies and projects in order to improve economic and financial risk assessment and management in policy and planning. |
| first_indexed | 2024-03-07T04:26:58Z |
| format | Journal article |
| id | oxford-uuid:ccf8928f-b0be-4a4c-8f2c-60e5943ecbb2 |
| institution | University of Oxford |
| last_indexed | 2024-03-07T04:26:58Z |
| publishDate | 2007 |
| publisher | Taylor and Francis |
| record_format | dspace |
| spelling | oxford-uuid:ccf8928f-b0be-4a4c-8f2c-60e5943ecbb22022-03-27T07:25:31ZCost Overruns and Demand Shortfalls in Urban Rail and Other InfrastructureJournal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:ccf8928f-b0be-4a4c-8f2c-60e5943ecbb2Saïd Business School - EurekaTaylor and Francis2007Flyvbjerg, BRisk, including economic risk, is increasingly a concern for public policy and management. The possibility of dealing effectively with risk is hampered, however, by lack of a sound empirical basis for risk assessment and management. This article demonstrates the general point for cost and demand risks in urban rail projects. The article presents empirical evidence that allow valid economic risk assessment and management of urban rail projects, including benchmarking of individual or groups of projects. Benchmarking of the Copenhagen Metro is presented as a case in point. The approach developed is proposed as a model for other types of policies and projects in order to improve economic and financial risk assessment and management in policy and planning. |
| spellingShingle | Flyvbjerg, B Cost Overruns and Demand Shortfalls in Urban Rail and Other Infrastructure |
| title | Cost Overruns and Demand Shortfalls in Urban Rail and Other Infrastructure |
| title_full | Cost Overruns and Demand Shortfalls in Urban Rail and Other Infrastructure |
| title_fullStr | Cost Overruns and Demand Shortfalls in Urban Rail and Other Infrastructure |
| title_full_unstemmed | Cost Overruns and Demand Shortfalls in Urban Rail and Other Infrastructure |
| title_short | Cost Overruns and Demand Shortfalls in Urban Rail and Other Infrastructure |
| title_sort | cost overruns and demand shortfalls in urban rail and other infrastructure |
| work_keys_str_mv | AT flyvbjergb costoverrunsanddemandshortfallsinurbanrailandotherinfrastructure |