The Overall Risk Assessment and Management: Implementation of Foreign Investment Construction Megaprojects by Russian Development Companies

The article describes a practical procedure of the overall risk efficient management in the course of implementation of investment construction megaprojects (ICPs) by Russian development companies considering overseas market operations.On the one hand, the dual nature of risk, is expressed in terms of likelihood to suffer certain economic losses (net risk), on the other hand, it is a possibility to gain a significant income under conditions of acceptable risk limits and, consequently, ensure financial stability of the business entity under consideration. The cross border index shall be considered in the calculations for the purposes of implementation of an investment construction project at an overseas market.A project can be considered as completed provided that the previously identified goals considering previously established restrictions on the final product quality, cost parameters and overall risk were accomplished. Project results shall comply with the developer's business plan considering interests of all investment process participants. This, in its turn, can be achieved by carrying on specific management functions.The proposed procedure of the overall risk assessment and management provides for application of special techniques and instruments that allow to take into account the uncertainty factor at all stages of implementation of an investment construction project in the best possible way.