Risks, Associated with LISP Projects

Abstract

The paper discusses the risks, associated with participatory budgeting projects. In this light, the author analyzes the most common pattern – local initiatives support programs. The author identifies both the LISP projects risks and their mitigation measures. The article gives more accurate definition of the term “project risk management”. The paper systematizes the economic categories that form part of this notion. The author has defined phases and stages of LISP project lifecycle and the risks that may appear at each stage. The author has proposed some risk mitigation measures for LISP projects. The given measures can be employed by various stakeholders.