RISK MANAGEMENT AND EVALUATION OF THE EFFECTIVENESS OF MITIGATION CONTROLS IN PUBLIC COMPANIES IN ANTIOQUIA, COLOMBIA

Abstract

In an increasingly interconnected and volatile global environment, risk management has become crucial for organizations and governments alike. This study explores risk management practices in Colombia's public companies, focusing on the systematic processes of identifying, assessing, and controlling hazards, with a strong emphasis on regulatory compliance. Through a systematic literature review (SLR), the research analyzes current sector practices, evaluating key risks such as supply disruptions, natural hazards, and cybersecurity, as well as the effectiveness of existing control measures. The study also reviews the Colombian regulatory framework and identifies opportunities to enhance the ‘culture of risk’ management within the sector. Findings emphasize the need for a comprehensive approach that engages key stakeholders and strengthens both the resilience and sustainability of utility operations. This research contributes to a deeper understanding of risk management in Colombia's public utilities sector, with direct implications for improving the quality and safety of services provided.