The significance of risk identification and quantification during the preparation, contracting and implementation of smart cities projects (CROSBI ID 696467)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Vašiček, Davor ; Juričić, Damir ; Marenjak, Saša
engleski
The significance of risk identification and quantification during the preparation, contracting and implementation of smart cities projects
Smart cities projects, as with any investment, carry a series of risks stemming from internal and external factors. Risk materialization throughout the lifecycle of a project determines the efficiency of a project, i.e., the degree to which goals are achieved as defined at the beginning of the project. Accordingly, procedures for identifying (defining individual risks) and quantifying (determining the financial value of the risk) are particularly important for proper preparation of a smart city project. These projects, unlike other public projects in the area of social and economic infrastructure, where historical data exists and which can be used to determine the likelihood of risk distribution, are characterized by a lack of data and a relatively “wider” distribution of probability. This article defines the role and significance in the process of risk quantification using practical examples, and proposes a method for deriving the cost (income) and risk from probability distribution risks when contracting smart city projects, and when the project is procured by a traditional or alternative procurement model such as public- private partnership.
smart cities, risks, contracting, financial modelling
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Podaci o prilogu
317-328.
2020.
objavljeno
Podaci o matičnoj publikaciji
Smart Governmensts, Regions and Cities
Drezgić, Saša ; Žiković, Saša ; Tomljanović, Marko
Rijeka: Sveučilište u Rijeci Ekononski fakultet
978-953-7813-22-0
Podaci o skupu
2nd International Scientific Conference Economics of Digital Transformation DIGITOMIC (EDT 2019)
predavanje
02.06.2019-04.06.2019
Opatija, Hrvatska
Povezanost rada
Trošak objave rada u otvorenom pristupu
Ekonomija