Regulatory Impact Statementsby J. Paul Guyer, Guyer Santin Inc, United States,
Abstract: This paper suggests the issue of regulatory impacts be addressed in a manner analogous to environmental impacts, using a timely, comprehensive methodology. By 'timely' is meant the cost impacts should be evaluated before the financial go/no-go commitment is made. By 'comprehensive methodology' is meant one which identifies the players, in the regulatory process, assesses their potential for inducing time delays and cost escalation, evaluates measures to accommodate or neutralize their concerns, develops a risk/benefit assessment for the project, and then a tactical plan for proceeding with the project if the benefits outweight the risks. It also suggests the types of individuals who should participate in a regulatory impact study.
Subject Headings: Environmental issues | Risk management | Project delay | Construction costs | Urban development
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