An algorithm for justifying the choice of a contractor based on the assessment of risk tolerance, taking into account losses from risk situations and the costs of eliminating their consequences

Abstract

Subject. This article deals with the development of a methodology for justifying the choice of a contractor based on the assessment of risk resistance, taking into account losses from risk situations (combinations) and the costs of eliminating their consequences. Objectives. The article aims to develop an algorithm for justifying the choice of a contractor based on the assessment of risk resistance. Methods. For the study, we used the methods of economic and mathematical modeling, statistical analysis, economic analysis, models and methods of mathematical forecasting, optimization of project management processes, and the methods of justification of economic decisions under uncertainty and mathematical modeling. Results. The article identifies the distinctive particularities of the existing models of investment and construction projects. The article describes and presents the author-developed approach to designing an algorithm for justifying the choice of a contractor based on risk tolerance assessment. Relevance. The practical significance of the results lies in the possibility of justifying the choice of the contractor based on the assessment of risk resistance.