E3S Web Conf.
Volume 274, 20212nd International Scientific Conference on Socio-Technical Construction and Civil Engineering (STCCE – 2021)
|Number of page(s)||12|
|Published online||18 June 2021|
Proactive mechanisms for response to risks of business entities engaged in investment and construction activities
1 Saint-Petersburg State University of Architecture and Civil Engineering, 190005 Saint-Petersburg, Russia
2 Saint-Petersburg State University of Civil Aviation, 196210 Saint-Petersburg, Russia
3 Moscow State Institute of International Relations, 119454 Moscow, Russia
* Corresponding author: firstname.lastname@example.org
Basing on the extensive analysis of both native and foreign scientific publications, the authors have concluded that the problem of classifying risks and factors of their occurrence, and the risk assessment, as well, is well-publicized. In some works, strategies are proposed to mitigate consequences of the onset of risks by creating reserves. However, all of them are mechanisms of the management response during implementation of an investment and construction project, i.e., the reactive position. The article proposes to move from a reactive to a proactive position, which essence is to implement the goal set by the investor, regardless of the conditions, circumstances, and the likelihood of the manifestation of internal or external negative impacts. This problem is solved by the Business Impact Analysis (BIA) method, which logic is only in assessing the fact of breaching contracts by the subjects, but not the frequency of occurrence of events causing risks. The method used does not consider or observe the content of various events, their cause-and-effect relationships, but the only fact of nonfulfillment of the contract terms in relation to duration or estimated cost by a business entity implementing investment and construction projects.
Key words: Reactive position / proactive paradigm / investment and construction project / risks / proactive tools
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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