New approaches to managing unfinished capital construction projects as part of the transformation of the federal targeted investment program

Abstract

The article examines the practical challenges associated with overseeing unfinished capital construction objects, characterizes the scope of the issue, and highlights its implications for the country’s economy in accomplishing strategic development goals.The practice shows that the implemented measures to reduce the number of unfinished capital construction objects have not resulted in a significant change.The management system aimed at preventing the emergence of newunfinished capital construction objects needs further adjustment.The study aims to identify the primary factors and associated risks that contribute to the emergence of unfinished capital construction objects.The risks are categorized based on the cumulative stages in implementing the Federal Targeted Investment Program. The author analyzes the transformation of approaches to the managing these objects.The measures taken are evaluated in terms of their effectiveness and focus on addressing each of the identified management problems.Given the challenges associated with estimating construction costs and the requirement to subsequently realize construction within the budgeted amount,the study poses the question of whether state expertise can be substituted with non-state expertise. The author suggests implementing several measures if the project’s timeline,quality,or budget are not met.