Risk management in large-scale projects: principles, management tools, results

Abstract

At the current stage of economic relations development, taking into account external challenges, certain prerequisites have been formed for the application of project management in the activities of individual business entities, as well as at the level of executive power. The analysis of the results of the implementation of national, federal, regional and departmental projects has shown that the application of the methodology and tools of project management has yielded positive results in solving both economic and social problems. At the same time, state, regional and sectoral problems were identified, which can be avoided with a properly organized risk management system in projects. The existing risk management standards contain the principles on which the risk management system in projects should be based, but they need to be linked to the conditions of national and other projects, which are characterized by scale, long implementation period and a large number of participants. The organization participating in the project has its own risks, which the risk management system is focused on, but getting into the new system of interaction of organizations, additional risks arise. According to the researchers of this problem, new mechanisms are needed not only in each organization, but also an integrated system covering all project participants. The authors believe that one of the possible risk management tools in large-scale projects can be considered a scenario approach to project planning, which will allow the most reasonable formation of financial reserves in the risk management system. It will ensure more effective risk management by building their hierarchical structure in the form of a decision tree with consideration of alternatives to risk exposure. In the risk management system, it is necessary to provide for the process of improvement as an actualization of risks, taking into account the dynamics of factors of the external and internal environment of the project.