Cost overruns and demand shortfalls in urban rail and other infrastructure

Bent Flyvbjerg

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

69 Citationer (Scopus)

Resumé

Udgivelsesdato: February
OriginalsprogEngelsk
TidsskriftTransportation Planning and Technology
Vol/bind30
Udgave nummer1
Sider (fra-til)9-30
ISSN0308-1060
DOI
StatusUdgivet - 2007

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Rails
Risk management
infrastructure
risk management
Risk assessment
risk assessment
benchmarking
demand
Benchmarking
costs
cost
Economics
Costs
economics
public management
public policy
Acoustic waves
Planning
planning
project

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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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Cost overruns and demand shortfalls in urban rail and other infrastructure. / Flyvbjerg, Bent.

I: Transportation Planning and Technology, Bind 30, Nr. 1, 2007, s. 9-30.

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

TY - JOUR

T1 - Cost overruns and demand shortfalls in urban rail and other infrastructure

AU - Flyvbjerg, Bent

PY - 2007

Y1 - 2007

N2 - 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.

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

U2 - 10.1080/03081060701207938

DO - 10.1080/03081060701207938

M3 - Journal article

VL - 30

SP - 9

EP - 30

JO - Transportation Planning and Technology

JF - Transportation Planning and Technology

SN - 0308-1060

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