Support for Expert Estimations in Transportation Projects

O. Pastor, P. Novotný, J. Melechovský

Abstract


This paper deals with risk analysis as a part of the financial assessment of transportation projects. Two approaches to risk assessment are discussed. A risk can be evaluated either directly in terms of the probabilistic distribution of the assessment criterion; or an indirect determination of the risk can be applied without constructing the probability distribution, but by determining the characteristic features of the project. 

Keywords


decision-making; economic risk; direct determination of the project’s risk; subjective probabilities

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ISSN 1210-2709 (Print)
ISSN 1805-2363 (Online)
Published by the Czech Technical University in Prague