Adopting Risk Management Principles in Evaluating Investment Projects in Kirkuk Governorate

Abstract

Investment projects are considered among the important projects that contribute to the development of countries in general and specifically to the development of Kirkuk Governorate. During the adoption of the risk management plan, and for the purpose of achieving these goals, a questionnaire was made, a segment of engineers working in this field was identified, and questionnaire forms were prepared.  We conclude the following: The investment projects are unique in all their specializations with a set of risks related to the nature and law of the investment environment, and that the responsibility for identifying and studying the risks in investment projects is the sole responsibility of the investment owner, and this is an indicator of weakness in managing risks in those projects, and the sample members agreed on  The lack of scientific experience and the financial ability of most of the subcontractors, in addition to their lack of sufficient experience in modern technology.  The employers do not have sufficient experience in terms of preparing tables of quantities and pricing, which negatively affected the amounts allocated to the projects, in addition to the fluctuation in the prices of raw materials due to the unstable economic policy in Iraq, and the lack of an efficient evaluation of investment projects from a technical point of view, and the evaluation is limited only to the financial aspect without regard to the environmental and economic impact.