1 . AN EFFECTIVE STRATEGY , BUDGETING
SUSTAINABLE TECHNOLOGY – MOBILITY
Bike sharing : public-use bicycles , providing an alternative to driving , public transit , and private bike ownerships . Car sharing : providing access to short-term car use without full ownership . Congestion pricing : fees for private car usage in certain areas and during times of peak demand . Demand-based microtransit : a ride-sharing service with fixed routes and / or stops to supplement existing public transit routes , harnessing algorithms to analyse historical demand to determine routes , vehicle size , and trip frequency . E-hailing ( private and pooled ): real-time ordering of point-topoint transportation through a mobile device . Intelligent traffic signals : improving overall traffic flow through dynamic optimisation of traffic lights and speed limits . Source : McKinsey
53 the core factors involved in a modern smart city framework .
1 . AN EFFECTIVE STRATEGY , BUDGETING
“ Developing a smart city vision involves multiple stages : defining the relevant smart city concepts ; designing the planning process ; engaging and drafting approaches with stakeholders ; as well as prioritizing initiatives and crafting the roadmap .”
Within its report , the Eden Strategy Institute LLP details six steps for an effective smart city strategy . These include : taking stock of a city ’ s natural strengths and assets , to build the foundations for a smart city vision ; engaging with citizens when it comes to determining the smart goals and areas of development ; encouraging private sector involvement ; identifying focus areas ; establishing a specific criteria for the city in order to prioritise the multiple opportunities available ; and ensuring that each initiative is planned , sequenced and validated .
When it comes to developing a smart city , “ budgetary limitations often
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