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In management practice by innovative projects apply the following Ways of decrease in risk:
1. Risk distribution between participants of the project (transfer of a part of risk
3. Reservation of means for a covering of contingencies.
Risk distribution occurs by working out of the financial project plan and
Contract documents. Thus participants of the project accept a number of decisions,
Expanding, or potential investors narrowing a range. At carrying out
Corresponding negotiations participants of the project show flexibility
Concerning what share of risk they agree themselves to accept.
Many large-scale projects can have a delay in their realisation that can
To lead to such increase in cost of jobs which will exceed
Initial cost of the project. Therefore the important role belongs
To insurance of risks.
Risk insurance means transfer of certain risks the insurance
Creation of a reserve of means for a covering of contingencies
Provides a parity establishment between potential risks,
Influencing project cost, and the expenses necessary for overcoming
Failures in project performance.
At reservation of means for a covering of contingencies
Accuracy of initial estimation of cost of the project and it is considered
The estimation of contingencies allows to reduce the over-expenditure to a minimum
The reserve structure on a covering of contingencies is defined by two
1. The reserve shares on the general and special.
2. Definition of contingencies by kinds of expenses (wages,
The general reserve covers changes in the estimate, etc.
The special reserve switches on extra charges on a rise in prices covering, increase
Expenses on positions, payment of claims for contracts. It is especially important in
The differentiation of a reserve by kinds of expenses allows it degree
The risk connected with each kind of expenses which it is possible further
To extend to separate stages of the project.
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