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Risk Assessment Of Projects Co-Financed By The European Social Fund

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  • Nicoleta Daniela IGNAT

Abstract

The purpose of this paper is to support projects that encounter various types of risks in implementing projects co-financed by the European Social Fund. Today, risk analysis is a strategic factor that can lead to both elimination or reducing of the unwanted effects in the implementation of a project and to the transformation of a negative event into a success factor at project level. This article provides with risk quantification in a public institution in implementing projects co-funded by the European Social Fund and proposes a response plan to mitigate the effects of the risks. Thus, by becoming aware of the previous risks faced by the Beneficiary in the implementation of projects that have been focused on the development of human capital, project managers can make the best decisions both to prevent the occurrence of similar risks and to mitigate their effects from financial point of view on the Beneficiary's cash flow. The risk assessment and provided solutions of this work are considered to enhance the sustainable project planning thus to account for sustainable project management.

Suggested Citation

  • Nicoleta Daniela IGNAT, 2019. "Risk Assessment Of Projects Co-Financed By The European Social Fund," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(1), pages 833-844, November.
    • Handle: RePEc:rom:mancon:v:13:y:2019:i:1:p:833-844
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    References listed on IDEAS

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    3. Ofer Zwikael & Mark Ahn, 2011. "The Effectiveness of Risk Management: An Analysis of Project Risk Planning Across Industries and Countries," Risk Analysis, John Wiley & Sons, vol. 31(1), pages 25-37, January.
    4. Arnd Huchzermeier & Christoph H. Loch, 2001. "Project Management Under Risk: Using the Real Options Approach to Evaluate Flexibility in R...D," Management Science, INFORMS, vol. 47(1), pages 85-101, January.
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