RISK MANAGEMENT ON STRATEGIC INVESTMENT PROJECTS IN SERBIA

Abstract

Strategic investment projects are the basis of economic development, but also the development of the entire society. For this reason, it is necessary to conduct a studious analysis and approach to manage every element of these types of projects. Particularly significant chapter in this process represents potential risks and their adverse effects, with a view to their elimination or minimization, or an adequate response to them. This paper examines the effect of the main elements of risk management of the strategic investment projects in Serbia on achieving the project objectives, ass well as the impact of the characteristics of projects on the risk management process. Statistical data analysis was performed using the software packages SPSS 18.0 and LISREL 8.80. The proposed hypotheses are tested by GLM (General Linear Modeling) methodology, as well as using SEM (Structural Equation Modeling) methodology on a sample of 74 strategic investment projects on the territory of the Republic of Serbia. The results confirm some hypothesis, while some rejected, and the basis of that are derived numerous, significant conclusions.