Naslov
The significance of risk identification and quantification during the preparation, contracting and implementation of smart cities projects

Autori
Vašiček, Davor ; Juričić, Damir ; Marenjak, Saša

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Smart Governmensts, Regions and Cities / Drezgić, Saša ; Žiković, Saša ; Tomljanović, Marko - Rijeka : Sveučilište u Rijeci Ekononski fakultet, 2020, 317-328

ISBN
978-953-7813-22-0

Skup
The second scientific conference entitled Economics of digital transformation ''Smart governments, regions and cities“

Mjesto i datum
Rijeka, Hrvatska; Opatija, Hrvatska, 02.06.2019. - 04.06.2019

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
smart cities, risks, contracting, financial modelling

Sažetak
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.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA