The Impact of Risk Analysis in Project Cost Calculation

Assuming costs have a major impact for decision making of any project, comparing the variety of cost calculation alternatives, this article emphasis the certainty of a risk degree. Risk is generall y taken as part of business and working with affects the financial results of any company. So, it is considered as an uncertain event which leads to the possibility of losing. However, it can also be an opportunity. This research focuses on working with project-related risks, with a developed analyse on costs. In order to build a project budget, it is necessary not only to choose a suitable calculation method but above all is to identify all threats and opportunities and to analyse them thoroughly. Furthermore, it is important to define the procedure by which the risk will be quantified. The output of the study is the design of an appropriate project cost management model