Risk Management in Project Management in Bulgaria: Practices, Challenges and Perspectives Cover Image

Управление на риска в управлението на проекти в България: практики, предизвикателства и перспективи
Risk Management in Project Management in Bulgaria: Practices, Challenges and Perspectives

Author(s): Ivana Karadzhinska
Subject(s): Economy, Business Economy / Management
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: risk management; project; advantages; disadvantages
Summary/Abstract: The present report aims to examine risk management as a key element in project management in Bulgaria. In the context of the growing project activity in the country—both in the private and in the public sector—effective identification, analysis, and control of risks are summarized as decisive factors for the successful implementation of a given project. The theoretical framework for risk management is based on international standards and analyzes the extent to which these standards are applied effectively in Bulgaria. The report concludes with specific recommendations for improvement, including integrating risk management throughout the entire project life cycle, providing training for project teams, adapting international best practices, improving communication, and implementing innovative monitoring systems. In conclusion, it can be emphasized that in order to improve project effectiveness in Bulgaria, there is a significant need not only to comply with requirements but also to adopt risk management as a strategic managerial tool.

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