Abstract
The author offers the expanded classification of risks by phases of the project lifecycle and subjects of investment activities, taking into account the development of project financing. High-quality preparation of the design estimates and construction contracts; application of guarantees; limitation; hedging; insurance; use of the special settlement accounts of the project company allowing to exercise strict control of target use of financial resources of the project (escrow account); other tools allowing to reduce the probability of negative consequences, are named as the most effective instruments of minimization and protection against risks.
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