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- W597939295 abstract "Although tunnelling has distinctive engineering risks, the planning and financing of a tunnel project is no different than for any other infrastructure project. The project's initial feasibility study should include appraisals of the various options for meeting its objective and of the costs and risks of each option. Effective and robust design can lead to better understanding and control of technical risks in a transport project than of uncertainties like expected demand and revenue. Assessing the risk of meeting unforeseen ground conditions that can cause delays is crucially important for tunnel works. Before any decision is made on financing the project, there must be a thorough feasibility study of the project outlining its need and how to meet it, its risks, and its economic case. The Channel Tunnel Rail Link, which has always been a public-private partnership, illustrates the importance of managing the risks of major projects. Its revenue was overestimated initially, so that the project had to be restructured, but estimates of its construction costs have not changed significantly. The process of moving from the feasibility study to the completion of a major infrastructure project can be long. A standard tool in project financing is a risk matrix that lists all the risks and all the contractors." @default.
- W597939295 created "2016-06-24" @default.
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- W597939295 date "1998-11-01" @default.
- W597939295 modified "2023-09-24" @default.
- W597939295 title "MANAGEMENT OF RISKS IN PROJECTS" @default.
- W597939295 hasPublicationYear "1998" @default.
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