The paper "Bike Sharing System in Canberra" is a perfect example of a business case study. This cost Benefit analysis looks into the values of the financial and economic impacts of the Bike-sharing system in Canberra. This evaluation covers 12 months and has a discount rate of 5%. It also examines the Net Present Value which shows to what measure the benefits of the project will surpass its cost. Being a project that directly affects society, this valuation sheds light on the problem and states why it is a reliable and convenient solution. Abbreviations ACT Australian Capital Territory CBA Cost-Benefit Analysis NCP National Capital Planning Background Mobility is one of the prolific advantages of using a bicycle.
In the city of Canberra, mobility and accessibility by a car or train have numerous obstacles such as traffic congestion and high costs. However, this project offers a simple yet reliable and convenient way to access any point in Canberra. In an era where time-saving almost equals money savings, bikes provide avenues through which Canberra residents can save time. The project idea seeks to eradicate the hustle of trying to manoeuvre traffic and also aims at reducing pollution since bicycles do not consume gasoline. The Canberra transportation network guided by National Capital Planning seeks to ensure quick mobility in and about the city using cars as the primary methodology of movement.
The current population of Canberra is over 430,000 people, and it has an average 7% growth rate. Thus, the ownership of vehicles has risen drastically in the past five years thus piling pressure on the available infrastructure such as parking. It has also increased congestions, especially in peak hours. Ideally, over 50% of households had two or more vehicles by 2013 in Canberra.
Further research shows that 85.1% of Canberra residents have motor vehicles. This ownership is based on the ability of the population to access services and employment. This statistic is worrying statistics given that infrastructure development is has slowed down as a result of slackened economic growth.
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