Optimization of Entrepreneurial Risk Management in the Implementation of Residential Construction Investment Projects

Abstract

This article presents the results of an empirical study on the management of entrepreneurial risks in residential construction investment projects in Bulgaria, aiming at their optimization. The study analyzes current practices, the level of awareness, and the approaches applied for risk management among construction entrepreneurs, as well as the opportunities for improving these processes. The research object is construction entrepreneurs involved in the development and implementation of residential construction investment projects, while the research subject is the methods and tools used for managing entrepreneurial risks. The methodology includes a survey conducted among 50 entrepreneurs from various construction companies across the country, providing data on participant profiles, the risk control measures applied, and the effectiveness of existing practices. The results indicate that, despite the application of certain standards and methodologies, gaps still exist in risk identification, analysis, and preventive actions. Based on the analysis, scientifically grounded recommendations for optimization have been formulated, which can assist construction entrepreneurs and other stakeholders in achieving more effective, sustainable, and integrated risk management.