# Risk Analysis of Seaport Construction Project Execution
## 1 Introduction  
It is practically impossible to provide for technical object functioning in specific conditions and period of time without an occurrence of an undesired event. There are numerous hazard factors that cannot be eliminated. Increasing the level of safety of transport systems is possible through improving their reliability [1; 2; 3].  
Seaports, complex business systems, located at land-water interface, generally integrate four modes of transport: sea, rail, road and inland, and make up a cluster of spatial-functional facilities [4; 5; 6]. Improving the safety of transportation systems can be achieved by increasing the reliability and quality of system components. The goal is to reduce the possibility of failure or poor quality of system elements. Observations of the use of individual elements of transport systems in terms of their safety allow us to conclude that proper functioning depends not only on the reliability of the elements that make up the system, but also on the effective management of the operation process and quality management of the system.  
Seaport site is determined by natural conditions, and allocated land and water areas must be equipped with appropriate infrastructure and facilities for providing services to ships, cargo, and transport vehicles of the hinterland [7; 8].  
At the seaport construction phase, technical, organizational, legal and economic aspects have to be considered, but first of all the proper level of safety and security of the natural environment has to be assured to avoid negative impact of such projects on the surroundings.  
The first step in analysing the level of safety of the seaport construction project is to identify and then assess the factors initiating the occurrence of threats and to classify these threats. Since it is impossible to eliminate all hazard factors in a large investment projectsuch as seaport, it is important to identify and examine both the origins of undesirable events and the conditions of their formation and possible consequences.  
Given that a seaport territory includes land and water areas, it is important to consider these two environments and take them into account when classifying risks. In the traditional approach, the risk of construction investment project is defined as the combination of the probability of occurrence (P) and the magnitude of the consequences (S), whose values are assumed in practice on the basis of estimates [9; 10; 11]. Then the level of risk is evaluated in relation to the adopted risk criteria, most often distinguishing three levels: acceptable, correctible and unacceptable [12; 13]. In order to maintain and regulate an appropriate level of safety, various risk management methods are used, which include, among others, identification of threats, risk assessment of their occurrence, etc.  
This article deals with the assessment of risk level at the stage of seaport construction, with particular emphasis on selected adverse events that can significantly affect the timely completion of investment project. The authors aim to determine undesirable events that may occur during the construction of a seaport and the level of risk during seaport construction.