ANALYSIS OF INSTITUTIONAL FRAMEWORKS OF RISK ASSESSMENT AND MITIGATION IN PROJECT MANAGEMENT

The study emphasizes the importance of the institutional framework in project management, providing a structured approach to address uncertainties and promote project success. The article highlights various perspectives on risk management, focusing on continuous management activities and stages of the risk management process. The analysis discusses the institutional and legal framework of risk assessment and mitigation, emphasizing compliance with laws and regulations. Results illustrate the regulatory role of the state and the significance of ISO 31000 in managing risks. Discussions focus on the involvement of legal and regulatory bodies in risk management during project implementation. The conclusion reinforces the importance of the institutional framework in navigating uncertainties effectively, fostering transparency, and enhancing project outcomes.