ANTI-CRISIS APPROACHES TO PROJECT RISK MANAGEMENT UNDER ECONOMIC INSTABILITY
Abstract
This article explores anti-crisis approaches to project risk management under conditions of economic instability, which are characterized by high uncertainty, volatility of external factors, disruption of supply chains, financial constraints, and increased pressure on project timelines and resources. The study substantiates that traditional risk management models, focused mainly on identification and quantitative assessment, are insufficient in crisis environments and require adaptation toward flexibility, resilience, and proactive decision-making. The purpose of the article is to systematize and justify modern anti-crisis approaches to managing project risks in unstable economic conditions, as well as to identify practical tools that enhance project sustainability and adaptability. The research is based on a combination of general scientific and special methods, including analysis and synthesis, comparative analysis, system and process approaches, and generalization of international standards and best practices in project management. The article analyzes key transformations of project risks during periods of economic turbulence and highlights the growing importance of strategic, financial, operational, and stakeholder-related risks. Special attention is given to adaptive risk management frameworks, scenario planning, dynamic risk registers, stress testing, early warning indicators, and agile governance mechanisms. The role of leadership, organizational culture, and communication in mitigating crisis-related risks is also emphasized. The study demonstrates that effective anti-crisis risk management requires integration of project, risk, and crisis management concepts into a unified management system. Such integration enables timely response to external shocks, supports informed decision-making, and ensures continuity of project implementation even under adverse conditions. The findings of the research have practical significance for project managers, executives, and organizations operating in unstable economic environments, as they provide methodological guidance for enhancing project resilience and long-term value creation.
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