1 Urban Planning and Mobility, The Technical Faculty of IT and Design, Aalborg University, VBN2 Department of Development and Planning, The Technical Faculty of IT and Design, Aalborg University, VBN3 The division of Technology, Environment and Society, The Technical Faculty of IT and Design, Aalborg University, VBN4 Centre for Mobility and Urban Studies, The Technical Faculty of IT and Design, Aalborg University, VBN
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.
Transportation Planning and Technology, 2007, Vol 30, Issue 1, p. 9-30