Risk management system model for construction projects

This paper shows a project risk management system model allowing to better identify risks and to manage them throughout the life cycle of the project. It shows the most popular methods of risk probability assessment and tries to indicate the advantages of the robust approach over the traditional methods. Modern development of project management as well as the accumulated knowledge and experience in this field made it possible to integrate project management knowledge into a single system model. Within the framework of this model standard and robust approaches are applied and expanded for the tasks of project data analysis. The suggested algorithms used to assess the parameters in statistical models allow to obtain reliable estimates.