Cost overruns and demand shortfalls in urban rail and other infrastructure

Bent Flyvbjerg

doi:10.1080/03081060701207938

Cost overruns and demand shortfalls in urban rail and other infrastructure

Bent Flyvbjerg

Institut for Bæredygtighed og Planlægning

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › peer review

123 Citationer (Scopus)

Abstract

Udgivelsesdato: February

Originalsprog	Engelsk
Tidsskrift	Transportation Planning and Technology
Vol/bind	30
Udgave nummer	1
Sider (fra-til)	9-30
ISSN	0308-1060
DOI	https://doi.org/10.1080/03081060701207938
Status	Udgivet - 2007

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10.1080/03081060701207938

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Citationsformater

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abstract = "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.",

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AB - 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.

KW - Urban rail

KW - Cost underestimation

KW - Cost overrun

KW - Demand shortfall

KW - Economic risk assessment and management

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DO - 10.1080/03081060701207938

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ER -

Cost overruns and demand shortfalls in urban rail and other infrastructure

Abstract

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