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<p>[quote user="schlimm"]</p> <p> </p> <div class="quote-header"> </div> <blockquote class="quote"> <div class="quote-user">Sam1</div> <div class="quote-content">The Texas Central Railway has not presented any validated ridership, revenue, or cost projections.  Without them it is impossible to know whether its proposed high speed railway between Dallas and Houston will be financially successful.</div> </blockquote> <div class="quote-footer"> </div> <p> </p> <p><span style="text-decoration:underline;">Validated</span>?   How?   When entering a totally new territory, any projections can not be validated, at least not in the generally used definition of the term. [/quote]</p> <p>Ridership, revenue, and cost estimates can be validated by an independent auditor or consultant.  </p> <p>Amongst other things they would test assumptions and estimates against acceptable benchmarks; look for constistency in formula applications; and assess the robustness of the market analyses.  They would also test the finance plan for reasonableness, compliance with accounting and financial standards, etc.  </p> <p>Project promoters tend to focus on the best case scenarios, i.e. they see their project through rose colored glasses.  An independent auditor or consultant would draw attention to worse case and intermediate case scenarios.  He would look for and validate (attest) the exist strategies.</p>
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