Consideration of the impact of risk situations on the beneficiaries of investment projects
- Authors: Aleksanov D.S.1, Gracheva M.V.2, Chekmareva N.V.1
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Affiliations:
- RSAU — MSAA named after K. A. Timiryazev
- Economics Faculty, Lomonosov Moscow State University
- Issue: Vol 61, No 3 (2025)
- Pages: 43-55
- Section: Problems of national economy
- URL: https://journals.rcsi.science/0424-7388/article/view/312213
- ID: 312213
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Abstract
The article discusses a number of key issues of risk accounting in the development of investment projects. The need for this analysis is caused by errors encountered in the development of business plans for investment projects and distortions of the provisions of modern investment design techniques. Thus, one of the main principles of the assessment is to take into account the presence of different project participants, since the implementation of any investment project affects not only the interests of the direct participants, but also the interests of society, the national economy and the economies of the regions in which the relevant changes are planned, as well as budgets of different levels. However, business plan developers focus on performance indicators from the perspective of a single “design firm”. At the same time, assessments of the activities of subjects in the “project” situation, reflected in the business plans of the projects, are interpreted as assessments of the investment projects themselves, changing the prevailing trends. The article shows that the initiator of the project, in order to make informed decisions, is important not only the performance indicators of the activities “with the project”, but also the effectiveness of the project itself, as well as evaluating the effectiveness of participation in its implementation from the perspective of the main partners and higher-level structures. Attention is also paid to the problems of underestimation in business plans of the financial feasibility of the project and the definition of sustainability boundaries. The distortions of interpretations of a number of key provisions in the development of business plans noted in the article are illustrated by specific numerical examples of the correct use of approaches described in the methodological literature.
About the authors
D. S. Aleksanov
RSAU — MSAA named after K. A. Timiryazev
Email: daleksanov@mail.ru
Moscow, Russia
M. V. Gracheva
Economics Faculty, Lomonosov Moscow State University
Email: grachevamv@mail.ru
Moscow, Russia
N. V. Chekmareva
RSAU — MSAA named after K. A. Timiryazev
Email: cnv2005@yandex.ru
Moscow, Russia
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