Project risk management: working with contractors

Abstract

Project risk management: working with contractors

Shadrina K.S., Korkishko A.N.

Incoming article date: 03.12.2020

No major construction project is implemented without the involvement of contractors who perform significant work in the field of geodesy, design, equipment manufacturing, construction, control and commissioning of the object. In the conditions of market economy the existence of risk is inevitable for all participants in the construction project. Risks are one of the most serious problems of the customer, who needs to keep the limit of the estimated cost of a construction project unchanged. If negative external risks cannot be regulated, internal risks can be minimized or eliminated. Analysis of the experience of customers in the oil and gas industry of the Tyumen region draws attention to the relevance of the problem today. The article presents technical, financial, and organizational risks as the most common, and identifies ways to manage them.

Keywords: the customer's and contractor's responsibilities, risk insurance, reserve funds