Risk Management Model in the Formulation Phase of the Technological Project

Abstract

In the 2014-2020 perspective, the calls for proposals are mainly directed to the entrepreneurs. It provokes the necessity to prepare the project applications to the consulting company by the entrepreneurs themselves or to sub-contract it. However, the preparation of the proposals by the applicants is more rationale, because they know best what will be developed and how to justify it. On the other hand, while writing the applications, it is indispensable to consider all risks that might happen during the preparation process and which can influence the further phases of the project execution. The author of the article presents the theoretical background how risk can be managed. The main aim of this article is to design the model for risk management, which is dedicated to the formulation phase of the technological project. In the process of the model design, the author used direct interview and modelling methods. The application of this model enables the entrepreneurs to prepare the project application with all necessary aspects taken into consideration, which should be fulfilled; otherwise, the project application can be rejected.