Risk and Efficiency of Bicycle Paths

Abstract

This article concentrates on the cycle paths projects economic valuation and risks in the course of their realisation in the area of the Czech Republic. The objective of the paper is to assess possibilities of valuation of efficiency and risks of the cycle paths projects in the Czech Republic and design the structure of the valuation together with the recommended methods. Achievement of objectives is based on the detailed analysis of the current situation in economic valuation and risks assessment in the area of cycle paths realisation as well as in projects from the related fields as road, railway or water infrastructure. Methods suitable for the efficiency and risk valuation based on Cost-benefit Analysis principles or qualitative or quantitative risk analysis are discussed in the article. Possibilities of use of alternative methods functioning on the principles of multi-criterial analysis are also pointed out. The paper raises recommendations for valuation of cycle paths projects efficiency and risks in the area of the Czech Republic resulting from domestic as well as foreign experience and practice. It also suggests future directions of the research into the area of addressed issue. It will be usable for economic efficiency of public investment projects, esp. bicycle paths, evaluation.This article concentrates on the cycle paths projects economic valuation and risks in the course of their realisation in the area of the Czech Republic. The objective of the paper is to assess possibilities of valuation of efficiency and risks of the cycle paths projects in the Czech Republic and design the structure of the valuation together with the recommended methods. Achievement of objectives is based on the detailed analysis of the current situation in economic valuation and risks assessment in the area of cycle paths realisation as well as in projects from the related fields as road, railway or water infrastructure. Methods suitable for the efficiency and risk valuation based on Cost-benefit Analysis principles or qualitative or quantitative risk analysis are discussed in the article. Possibilities of use of alternative methods functioning on the principles of multi-criterial analysis are also pointed out. The paper raises recommendations for valuation of cycle paths projects efficiency and risks in the area of the Czech Republic resulting from domestic as well as foreign experience and practice. It also suggests future directions of the research into the area of addressed issue. It will be usable for economic efficiency of public investment projects, esp. bicycle paths, evaluation.