Modification of project approach to mechanical equipment installation projects in Serbia

Abstract

This paper considers the project approach to mechanical equipment installation projects for qualified Serbian companies that perform the installation of mechanical equipment in the construction of investment facilities. It also reviews the current situation and provides quantitative indicators of the project approach. Furthermore, the paper presents a modified model of the project approach to projects that use Internet technologies. Lastly, on the basis of research results, it was concluded that non-formalized approach of risk management prevails, so it is proposed to mod the project approach in order to use modern information communication technologies and the Internet to a larger extent, as well as the formalization of risk management.