Risk Analysis by Key-coefficient Assessment - Public Lighting Project Example

Abstract

Project risks analysis model RAKA (Risk. Analysis by Key-factors Assessment) was created primarily for the purposes of industrial product development in small enterprises which operate in an environment of economic and political transition and is based on the assessment of particular weighting factors. Once estimated, these can be applied to future projects of the same type, given the same operating conditions. Thus, the formalized assessment of risk analyses becomes rather simplified, and, in addition, the model makes possible calculating the overall risk factor for each of the targeted project objectives. The public lighting project was used as an example to illustrate the procedure introduced in this paper.