№ 4/2018

№ 4/2018

Nauk. pr. NDFI 2018 (4): 17–29https://doi.org/10.33763/npndfi2018.04.017

FINANCIAL AND ECONOMIC REGULATION

DYACHENKO Iakiv ¹

¹SESE “The Academy of Financial Management”

Improvement of risk management system for investment projects

The conceptual and scientific apparatus of risks, their influence on the effectiveness of economic activity is investigated. In order to systematize the means of the economic mechanism of risk management, to effectively overcome the challenges and threats, to further develop its component structure, theoretical approaches to the formation and development of the general risk theory, based on global and national experience in risk management, are generalized; the main types of risks and key problems are identified; the main requirements for means of forecasting, overcoming and managing risks are substantiated; and proposals for improving the effectiveness of risk management in Ukraine are developed in the present paper. Assessment and manifestation of risks as an inherent property of the market environment are based on factors of political, market, financial, industrial, investment and operational character. Methodological approaches to determining the extent of risk exposure to a particular type of economic activity are based on the quantitative calculation of the risk exposure due to losses or positive effects, taking into account the probability of obtaining the planned result, whether undesirable adverse effects or deviations from the target. The determination of risks is based on the factors of their occurrence, the quantitative limits of their manifestation and methodological approaches to their evaluation. The given model of the organization of work on risk management includes the following sequence of actions: selection of an expert team, a choice of techniques for analyzing the influence factors, distribution of risks and consideration of the findings. To reduce and prevent risks, methods of their distribution, insurance, redundancy of coverage and neutralization are recommended. The proposed risk management recommendations will make it possible to promptly respond to changes in project implementation parameters and take scientifically based management decisions.

Keywords:economic activity, risks, risk management, means of economic mechanism, management model

JEL: D81, E22, G11, G32

DYACHENKO I. . Improvement of risk management system for investment projects / I. . DYACHENKO // Наукові праці НДФІ. - 2018. - № 4. - C. 17-29.

Article original in Ukrainian (pp. 17 - 29)

Download

Downloads :1093

1. Yastremskyi, O. I. (1997). Fundamentals of the theory of economic risk. Kyiv: ArtEk [in Ukrainian].

2. Hlushchevskyi, V. V. (2009). Methodological basis of the concept of risk management in entrepreneurial activity. Finance of Ukraine, 10, 57-72 [in Ukrainian].

3. Bartashevska, Yu. M. (2013). Comprehensive approach to assessing the investment risk of an enterprise. European vector of economic development, 2, 25-31 [in Ukrainian].

4. Skopenko, N. S., Moskalenko, V. O. (2013). Risk control in project management. Investments: practice and experience, 24, 41-44 [in Ukrainian].

5. Proskurova, V. F., Bilak, R. H. (2017). Methodological approaches to risk management. Economy and Society, 9. Retrieved from economyandsociety.in.ua/journal/9_ukr/102.pdf [in Ukrainian].

6. Iefymenko, T. I. (2012). Fiscal space for anti-crisis regulation. Kyiv: DNNU "Akademiia finansovoho upravlinnia" [in Ukrainian].

7. Gasanov, S. S., Shtanhret, A. M., Kotliarevskyi, Ya. V. et al. (2012). Anti-crisis corporate governance: theoretical and applied aspects. Kyiv: DNNU "Akademiia finansovoho upravlinnia" [in Ukrainian].

8. Gasanov, S. S., Havryliuk, O. V. (2013). Substantiation of opportunities for minimizing the risks of post-crisis financial sector functioning. RFI Scientific Papers, 3, 3-14. Retrieved from nbuv.gov.ua/UJRN/Npndfi_2013_3_2 [in Ukrainian].

9. Gasanov, S. S. (2017). Fiscal risks and fiscal targeting in the system of public finance management under institutional uncertainty. RFI Scientific Papers, 2, 5-24. Retrieved from npndfi.org.ua/?page_id=723&aid=847&lang=uk [in Ukrainian].

10. Gasanov, S. S., Kudriashov, V. P. (2015). The budget deficit restrictions in conditions of fiscal risks. RFI Scientific Papers, 3, 5-14 [in Ukrainian].

11. Bohdan, T. P. (2017). Global conditions and country-specific risks for functioning foreign exchange and financial sectors in Ukraine. Finance of Ukraine, 1, 52-74.
doi.org/10.33763/finukr2017.01.052

12. Ivanytska, O. M., Koshchuk, T. V. (2017). Fiscal risks management related to activities of state enterprises in Ukraine. Finance of Ukraine, 2, 64-80 [in Ukrainian].

13. Ivanytska, O. M., Koshchuk, T. V. (2018). Methodological grounds of fiscal risks identification. Finance of Ukraine, 6, 45-57 [in Ukrainian].
doi.org/10.33763/finukr2018.06.045

14. Lunina, I. O. (2017). Risks of the long-term solvency of the state. Finance of Ukraine, 4, 7-20 [in Ukrainian].

15. Yukhymenko, P. I., Leonenko, P. M. (2005). The history of economic studies. Kyiv: Znannia-Pres [in Ukrainian].

16. Vitlinskyi, V. V., Marchenko, V. O. (2002). Accounting for risk in the modeling of the investment decision-making process. Economics: problems of theory and practice, 128, 136-149 [in Ukrainian].

17. Keynes, J. M. (1980). The general theory of employment, interest and money. Moscow: Progress [in Russian].

18. Mortikov, V. (2006). To the concept of a conceptual apparatus and the main problems of the economy of uncertainty. Economy of Ukraine, 2, 16-21 [in Ukrainian].

19. Chumachenko, M. H. (Ed.). (2003). Economic analysis. Kyiv: KNEU [in Ukrainian].

20. Hlibchuk, V. M. (2010). The modelling and optimization of investment risk on machine-building enterprises under uncertainty. Institute of Management and Economics "Halytska Aacademy", 1, 263-269 [in Ukrainian].