Cost Overruns and Demand Shortfalls in Urban Rail and Other Infrastructure

Journal article

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...

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Authors: Flyvbjerg, B

• Publisher: Taylor and Francis
• Publication date: 2007-02-01