Studying Cultural Differences is an Important Way to Minimize Risks in International Projects

The expansion and deepening of economic cooperation within the framework of international projects between Russia and China updates to develop new innovative approaches to minimizing various types of risks. Underestimation of the role of cross-cultural risks in international projects can lead to various kinds of negative consequences. The purpose of the research is to study cultural characteristics of mindset and behavior as a way to minimize risks in Russian-Chinese projects. The author substantiates the importance of taking into account cross-cultural risks in terms of improving the effectiveness of international project management. Performs a comparative analysis of the patterns of thinking and behavior of Chinese and Russians. The author comes to the conclusion that the degree of socio-cultural distance between Russia and China is quite high, which increases the risks of cross-cultural misunderstandings, mistakes and conflicts. As part of this research, a comparative analysis of the differences in the socio-cultural characteristics of the thinking and behavior patterns of the Chinese and Russians was carried out. Taking these differences into account will support to more effective management of cross-cultural projects, as well as the formation of the value of trust between Russian and Chinese partners. Specific recommendations have been developed to increase the effectiveness of cross-cultural communications between Russians and Chinese when working on joint projects.