Risk management in local development projects in Cuba.

Abstract

Effective risk management in local development projects has become a critical factor in the sustainable success of communities around the world. In a global context characterized by constant change, uncertainty and socioeconomic challenges, these projects play an essential role in improving people's quality of life and promoting regional growth. However, these projects are exposed to a variety of risks that can hinder their objectives and results. Hence the relevance of this paper, which aims to propose a procedure for risk management in local development projects. To this end, an extensive bibliographical review of the theoretical and methodological background is undertaken and expert and statistical methods are applied. The proposed procedure is validated from its application in the project Rehabilitation of domestic liquefied petroleum gas cylinders of the Industrial Works Construction Company No. 6, specifically of the UEB Training School of Cienfuegos. As a result of the research, the main factors that can jeopardize the execution of the project are analyzed, identifying as first priority or critical the lack of raw materials and materials needed in the production process and equipment breakage.

Keywords:

Local Development Projects, Risk Management, Economic Growth.