THE MAIN RISKS OF ECONOMIC SECURITY OF THE CONSTRUCTION INDUSTRY ENTERPRISES, THEIR IDENTIFICATION AND MANAGEMENT

• Main Authors: Nataliia Chekh, Darina Vershynina, Andrey Lub
• Format: Article
• Language: English
• Published: Kharkiv National University of Radio Electronics 2019-06-01
• Series: Сучасний стан наукових досліджень та технологій в промисловості
• Subjects: economic security; construction; risks; financial risks; construction companies; fraud
• Online Access: https://itssi-journal.com/index.php/ittsi/article/view/136

In the conditions of an unstable economic environment, the main task of the management of enterprises in the construction industry is to adapt the changing of the external conditions and the reducing of negative factors influence on the activity and its financial results. The uncertainty of the influence of environmental factors and the lack of opportunity to make a reliable forecast of economic processes in the industry give rise to risk. The uncertainty factor has a significant impact on the activity of construction companies, which determines the urgency of the task of increasing the effectiveness of risk management at all stages of the life cycle of construction products. The subject of the study in this paper is the peculiarities of the activities of construction enterprises and their economic security. The construction industry is the core of the entire national industry, in comparison with other types of economic activity; it has a number of advantages, namely: consolidation, real estate, capital intensity, material content, duration of creation and operation, etc. Compared to many other industries, construction is a specific type of design industry with certain characteristics that affect the characteristics of the built-in products, the modes of production and industry. The objective of the article is to identify the main risks of the economic security system of the construction company and analyze the ways of their identification and evaluation. The purpose of article is to identify the main risks of the economic security system of the construction company and analyze the ways of their identification and management. The goal of this research is to develop an author's approach to classifying the risks of economic safety of construction industry enterprises and to develop recommendations on identifying and managing risks. Using the general logical-analytical methods, this article explores the nature of the characteristics of the enterprises of construction and industry of various types of risks associated with it. As a result, the authors proposed to distinguish legal, financial, architectural and construction (production), natural (ecological) and risks on the real estate market as the main risks of economic safety of the enterprises of the construction industry. Conclusions regarding the main features of the activity of construction enterprises and nature of risks in their functioning are made.