Managing the risk of the need for additional financing of investment projects of transport infrastructure

The article discusses topical issues and key trends in the development of price formation, value engineering and value management of construction investment projects, uncertainty and risk. The main attention is paid to increasing the consistency of determining the cost of construction under risk of the need for additional financing. The occurrence of such risks in the conditions of limited resources can lead to significant economic losses, therefore, it is necessary to manage the risk of the need for additional financing at the stage of project in the preparation of cost calculations and estimates. We have proposed the innovative methodology of managing the risk of the need for additional financing, which has a practical importance for investors and ordering organizations in the conditions of limited resources. A risk situation is considered and the sources and factors of risk are defined, the criteria and methods of identification, analysis and comparative assessment of risk are substantiated depending on the «risk price» and «risk degree». We have developed a map of risk of the need for additional financing. We have offered an algorithm for justifying the contingency fund. The modern standardized procedures of risk management, methods of qualitative and quantitative analysis of risk, including the method of sensitivity analysis, the method of scenarios and the Oparin – Teterin digital method of integrated convolutions of the numerical sequences have been applied for achieving the goal of the study. We have considered the possibilities of using the method of integrated convolutions of numerical sequences for assessing the accuracy and consistency of determining the cost of construction of facilities of transport infrastructure.