Abstract

The purpose of the article is to identify the typical risks of participatory budgeting projects within the framework of the most common regional practice introduced in more than 40 constituent entities of the Russian Federation - a program to support local initiatives and the formation of measures to minimize their occurrence as part of the monitoring function implemented by various stakeholders. Local government bodies, executive authorities of the constituent entity of the Russian Federation, the population of the municipality - the territory of the project are identified as stakeholders for the participatory budgeting projects under consideration. The main element of the research methodology was the structural level method, which allows us to consider the risks of projects supporting local initiatives as an element of the economic system and economic level of public administration in the subject of the Russian Federation. The article clarifies the concept of “project risk management” through the systematization of the economic categories included in it, such as risk, threat, uncertainty, factors of uncertainty and chance, project risk, management system. As a prerequisite for the functioning of the management system, the authors noted the need to take into account risk-forming factors and their sources, as well as elements of uncertainty. The phases and stages of the life cycle of projects supporting local initiatives and typical risks within each of the elements are identified. Measures have been developed to minimize the possibility of the onset of risks of projects supporting local initiatives that can be implemented by various stakeholders as part of the management function “control”. The significance of the identity of representatives of local communities for the implementation of projects supporting local initiatives and minimizing their risks is substantiated. The results of the study can be embedded in the activities of public authorities at the state and municipal levels, of interest to scientists in the field of economics and management.

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