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Risks Management of the Value of Project
Marchenko V. M.

Marchenko, Valentyna M. (2019) “Risks Management of the Value of Project.” Business Inform 12:221–227.
https://doi.org/10.32983/2222-4459-2019-12-221-227

Section: Economics of Enterprise

UDC 005.8

Abstract:
The article is aimed at conceptualizing the research on risks of the project’s value by identifying the risks brought and created by each of the project participants. The conceptual approach to researching the risks of changing the value of project is based on the subjective principle of risk formation, according to which all possible sources of risks are distributed to the risks of the overall action (changes in the market status, changes in the purchasing power of consumer) and the risks which are carried by each participant and every interested person of a project. On the basis of studying the project’s values, three groups of subjective risks have been identified: the risks brought by project participant; the risks created by each of the participants in the course of implementation of a project; risks of losing the value of project to each of the project participants. Criteria of value for each of the project participants together with their estimation indicators have been formed; the aggregate of risks brought by each of the project participants has been identified; the risks that participants pose in the process of implementation of project are defined. The identification of the risk that each of the project participants brings and creates helps to identify both the riskiest project participant and all the sources of risk for each of the project participants. Managerial decisions directed towards reducing the negative impact of both the brought and the created risks of each participant allow to manage both the risks of the project’s value for each of its participants, and the risk of the project in general.

Keywords: risks management, project value, conceptual approach, subjective principle, project participants.

Fig.: 2. Tabl.: 1. Bibl.: 10.

Marchenko Valentyna M. – Doctor of Sciences (Economics), Professor, Professor, Department of Economics and Entrepreneurship, National Technical University of Ukraine «Igor Sikorsky Kyiv Polytechnic Institute» (37 Beresteiskyi Ave., Kyiv, 03056, Ukraine)
Email: [email protected]

List of references in article

Batenko, L. P. “Tsinnist proektu z pozytsii riznykh zatsikavlenykh osib“ [Project Value from the Standpoint of Various Stakeholders]. Efektyvna ekonomika. 2013. http://www.economy.nayka.com.ua/?op=1&z=2340
Danchenko, O. B. “Ohliad suchasnykh metodolohii upravlinnia ryzykamy v proektakh“ [Overview of Current Project Risk Management Methodologies]. Upravlinnia proektamy ta rozvytok vyrobnytstva, no. 1 (2014): 16-25.
Marchenko, V. M. “Upravlinnia vytratamy v protsesi formuvannia tsinnosti proektu“ [Cost Management in the Process of Project Value Formation]. Formuvannia rynkovykh vidnosyn v Ukraini, no. 5 (2018): 48-53.
Marchenko, V. M. “Ekonomichna sutnist poniat «tsinnist» ta «upravlinnia tsinnostiamy»“ [Economic Essence of the Concepts of «Value» and «Menagement of Values»]. Formuvannia rynkovykh vidnosyn v Ukraini, no. 12 (2016): 100-104.
“Rukovodstvo k Svodu znaniy po upravleniyu proektami (Rukovodstvo PMBOK®)“ [Project Management Knowledge Base Guide (PMBOK® Guide)]. Project Management Institute, Four Campus Boulevard, Newtown Square, PA 19073-3299 USA. https://www.studmed.ru/rukovodstvo-k-cvodu-znaniy-po-upravleniyu-proektami-pmbok-3_ba4bcc4760e.html
Sarychev, D. O. “Tsinnisno-protsesne upravlinnia proektamy na pidpryiemstvi“ [Value-based Project Management at the Enterprise]: dys. … kand. ekon. nauk : 08.00.04, 2017.
Tryhuba, A. et al. “Identyfikatsiia ryzykiv tsinnosti proektiv stvorennia kooperatyviv kormozabezpechennia simeinykh molochnykh ferm“ [The Identification of Risks Value of Projects for the Creation of Family Dairy Farms and Feed Supply Cooperatives]. Ahroinzhenerni doslidzhennia, no. 22 (2018): 177-186. DOI: https://doi.org/10.31734/agroengineering2018.01.177
Kharskiy, K. “Printsipy tsennostnogo upravleniya“ [Principles of Value Management]. https://www.ippnou.ru/article.php?idarticle=003076
Kylindri, S. et al. “Measuring Project Outcomes: A Review of Success Effectiveness Variable“. Annual MIBES International Conference. Oral: MIBES, 2012. 212-223.
Westerveld, E. “The Project Excellence Model®: linking success criteria and critical success factors“. International Journal of Project Management, vol. 21, no. 6 (2003): 411-418. DOI: https://doi.org/10.1016/S0263-7863(02)00112-6

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