Identification of Risks of Capital Construction of Facilities Within the Framework of Government Programs

The achievement of the results of socio-economic development is directly related to possible losses, therefore, the need to analyze the set of risks at the stage of justifying budget financing in the construction industry becomes urgent, and the procedure for identifying risks becomes necessary.

The article considers the problems of state financing of construction projects at the expense of the state budget. The authors describe the transition from the Federal Targeted Investment Program to the comprehensive state program "Construction" (CSP "Construction") and the formation of a register of capital construction projects (RCCP). The main problems investigated are to find solutions to minimize losses in the budget financing of construction projects, form a project selection procedure and ensure the adaptation of the information system for recording the performance of work on projects.

Considered groups of key risks: economic; managerial and bureaucratic; political and foreign economic; technical and production. Within these groups, categories and types of risks, consequences of exposure, key risk indicators and their management are identified. Based on the analysis of the fulfillment of budgetary obligations for financing facilities, trends in the development of risk situations were identified in terms of budget management, targeted financing, unfinished construction, and the impact of the budget deficit.

Solutions were proposed to limit specific risks at the stage of project selection for the implementation of budget financing for the identified risks of incompleteness or lack of quality of project documentation, non-compliance of data with the requirements of the register of projects, changes in the macroeconomic environment, incorrect distribution of budget allocations, transition period, unclear selection criteria, incomplete project, non-compliance with expectations and final results, changes in legislation and the regulatory framework.

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