Socio-economic and management risk evaluation criteria used in the design of construction facilities in the Arctic

Abstract

The article addresses the evaluation of criteria and the choice of technologies, materials, structures, machinery, and products needed to arrange the construction of infrastructure facilities in the Arctic region. The main task, tackled by the researchers, is the study of a strategy for the minimization of investment risks, that may arise in the course of the implementation of projects in the harsh weather conditions of the Far North. The authors consider ten principles of the management system, including efficiency, environmental friendliness, energy efficiency, logistics and others. The authors focus on the need to minimize the risks, that may accompany the choice of technologies, materials, structures, machinery and products in the course of construction in the Arctic area. It is feasible if certain evaluation criteria are applied to ensure the long-term operation of facilities and infrastructure throughout their life cycle.

Keywords

• project management
• economic efficiency
• construction and infrastructure facilities
• arctic region
• investments
• technologies
• materials