Model of risk management of construction project based on transaction costs
Irina Vladimirova Pavel Zemskov, Anna Tsygankova
Abstract.The paper studies the relationship between transaction costs and risk management in the construction projects affecting ecosystemconsidering economic externalities. Quantitative indicators of the impact of transaction costs on the level of risk in the project are thoroughly investigated. The construction project risk management model based on transaction costs is discussed in detail. Collected and experimental data of the construction project, which has a significant impact on the ecology of the Baikal region in the Russian Federation is analyzed and the uncertainty reduction caused by transaction costs is measured.