The Role and Importance of Risk Management in Construction Projects Financed From Centralized Sources

This article analyzes the risks arising during construction financed by centralized sources (the state budget and equivalent sources, such as state target funds and loans from international financial institutions). Financial, organizational, technical, and legal risks are classified, and their impact on construction efficiency is demonstrated. The strategic importance of risk management in improving construction efficiency is scientifically substantiated. Institutional and regulatory proposals for construction projects implemented through centralized financing in Uzbekistan are developed.