Methods For Minimizing Risks In Planning La...

Methods For Minimizing Risks In Planning Large Infrastructure Projects

Author Name : Mehdi Huseynov

ABSTRACT This article analyzes methods that help mitigate or minimize risks, widely applied in planning large infrastructure projects. The focus is on adapting these methods to modern requirements of sustainability and economic efficiency. The relevance of the topic is determined by the significant scale of risk factors that emerge during the design phase of infrastructure projects, including financial, time-related, technical, and social aspects. This necessitates a comprehensive approach to management mechanisms, their development, and functioning. The purpose of this work is to systematize existing risk management methods (based on recent scientific publications) and provide authorial recommendations for their correct selection. During the preparation of the article, contradictions in the literature were identified regarding insufficient integration of digital technologies and the universality of approaches to risk minimization. Special emphasis is placed on the importance of dynamic analysis, a systematic approach, and the adaptation of international experience to enhance the resilience of large infrastructure projects. The research concludes that a comprehensive methodology needs to be implemented, involving quantitative analysis, forecasting based on big data, and monitoring social factors, which will significantly reduce risks at all stages. The author’s contribution is the clear categorization of the limitations of the methods and the formulation of recommendations for their optimal selection.