SUSTAINABILITY MANAGEMENT OF PUBLIC INVESTMENT PROJECTS (EXEMPLIFIED BY OF THE RECONSTRUCTION PROJECT OF THE CENTRAL STADIUM IN YEKATERINBURG)

Abstract

Purpose. To study the features the use of risk analysis methods for public investment projects, development of recommendations to improve the sustainability of the project of Central stadium’ reconstruction in Yekaterinburg to internal and external environment’ factors. Methods. The methodological basis of the research were methods of system and comparative analysis of methods of general management (in particular, the method of analysis of internal and external environment, PEST-Analysis), project management (method of structuring investment projects), the methods of risk identification (based on expert survey questionnaires), methods of analysis of the probability and consequences of risks, the sensitivity analysis parameters of the project to factors internal and external environment, scenario analysis. Results. As exemplified by the project of Central stadium reconstruction authors proved the feasibility and necessity of applying the methods of risk management in public investment projects. Also in the paper it was identified certain features of the application of risk management techniques. In particular, special attention was paid to the possibility of calculating the economic efficiency in non-profit projects, the sensitivity analysis of economic indicators to internal and external environment’ factors. On the basis of scientifically authors assessed the sustainability of the project to internal and external environment’ factors, identified key risks of the project, made recommendations for their reduction / neutralization. Nine scenarios of key economic indicators project were calculated. Scientific novelty. The scientific novelty of the study lies in the possibility of using methods of risk analysis and management of resistance characteristic for business projects, for projects in the sphere of state and municipal government. The authors proposed a unique ability to assess the sustainability of the project, comprising the steps of identifying, analyzing, evaluating, forecasting risks. This algorithm can be used in other similar projects and programs.