Risks Management of the Value of Project
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.