This study focuses on enhancing the effectiveness of investment in construction given the constant threat of new risks. We investigate the types and causes of risks of firms working in the construction industry, draw conclusions about the importance of risks associated with the investment attractiveness of projects, as well as responsibility for the environmental safety. Urbanization and changes in the surrounding area are the dominant trend in the development of modern society. The constant demand of business for commercial real estate, as well as the increase in population growth demands enhanced effectiveness in the construction market, where supply in construction market depends on the economic conditions. The relevance of the research topic is due to the fact that the increasing capital flows in the construction industry pose new challenges for forecasting, statistics and risk control, and a focus on the rates of return mechanisms to hedge against the uncertainty of the future. The aim of the study is a systematic integrated approach to solving problems to improve the efficiency and effectiveness of investments and their protection using a methodological systematic approach, which considers the components of an integrated investment process. We propose a model of risk hedging management, and focus on an analytical methodology of the most relevant risks in modern construction.

Aim. The presented study aims to propose and substantiate the structure and content of a model of the digital transformation of the Russian economy in the context of the implementation of the advanced economic development model to ensure the growth of gross domestic product (GDP) and technological sovereignty.Tasks. The authors analyze the current strategy for the digital transformation of the domestic economy; determine the directions and nature of its changes; formulate the concept of a digital transformation model for the Russian economy; propose and substantiate its structure and content; identify systems of interrelations and interactions between its key elements.Methods. The results and conclusions of this study are obtained by applying general and special scientific methods and techniques. The general scientific methods used include analysis and synthesis, forecasting, modeling, induction and deduction, scientific abstraction, observation, expert assessments, etc. Factor analysis is used as a special scientific method.Results. The strategic priorities of the formation and implementation of the digital transformation model for the Russian economy are analyzed and justified, including trends for technological sovereignty and a model of advanced development. The concept of the digital transformation model is clarified, its structure and content are presented as a complex dynamic system comprising a technological platform, a digital core (generating unique technologies and providing competitive advantages to the country at the global level), and cybersecurity subsystems ensuring efficiency and sustainability.Conclusions. The model of the digital transformation of national economy is a complex dynamic system that requires increased attention to ensuring its sustainability. The equilibrium state of such systems can be achieved using a stable mechanism of interaction between the strategy and the core of the model; rapid and high-quality generation and scaling of technologies from the core to the economy; a stable mechanism for strengthening and creating new relationships between the core of the model and high-tech markets. The model’s effectiveness is associated with Russia’s standing in the global economy in 2030, and it can be confirmed by such indicators as GDP growth, technological sovereignty (at least in critical areas) and technological parity with developed countries, a high share of high-tech industries in the structure of the economy, etc. Under the modern conditions of increased turbulence, all the proposals regarding the structure of the digital transformation model can be fairly considered as an intermediate working option with a solid foundation in the form of dedicated technologies and interconnections between elements.