MODERN METHODS OF ALLOCATING FINANCIAL RISKS AMONG PARTICIPANTS IN INVESTMENT AND CONSTRUCTION PROJECTS

The article examines contemporary approaches to the distribution of financial risks among participants in investment and construction projects. Based on an analysis of scientific literature and current legislation, the authors systematize the key stages of risk management (identification, assessment, response planning, implementation, and monitoring), and provide a classification of risks according to project life cycle phases, sources of origin, controllability, and consequences. Special attention is paid to such risk allocation methods as contractual and statutory assignment of liability, insurance, bank guarantees, retention money, and contractor diversification. The authors propose criteria for comparative evaluation of these methods (effectiveness, cost, flexibility, and legal certainty) and formulate recommendations for building a risk management portfolio for each individual project. The paper is intended for researchers and practitioners in the fields of construction economics and project management.