Abstract
Infrastructure projects are going through a lot of difficulties, mostly connected with non standard established financing in South Eastern Europe countries. During and after transition period, undeveloped, insufficient but before all obsolete infrastructure in Serbia became a essential problem for further development of main economic resources (transportation, agriculture, mining, tourism etc.). Infrastructure network is necessity for the development of different sectors (energetic, agriculture, industry, commerce etc.). Domestic regulation is not clear in allowing project financing through Public Private Partnership (PPP) model, which is great opportunity for opening new projects and finishing many projects with on hold status. The main problem in decision making and starting financing projects in that model is too many risks on the market, which endanger projects from very beginning, especially in initiation phase so many investors decide to leave projects in very early phases. The analysis of potential risk elements, throughout the processes from bidding to operational infrastructure projects, is one of the most important elements to maximizing profit and functionality, and properly develop country infrastructure, while minimalizing potential difficulties that may arise. Much of the risk of a PPP project comes from the complexity of financing, taxation, law regulatory, aquired technical documentation and construction process involved in a major infrastructure venture. Main risks, their analyze and management on infrastructure projects are explained in this paper. After risk analyze, risk management tools are presented, together with method of managing risks on PPP projects in Serbia. DOI 10.5592/otmcj.2013.1.6 Research paper Goran Cirovic
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