Risk identification and assessment - guidelines for public sector in Poland

Abstract

Risk management should become a very important part of the responsibilities of management and an integral part of the normal organizational processes in all public sector entities. The primary reason for managing risk in the public sector is enable entities to successfully achieve their goals included in the financial and non-financial plans, according to the requirements of the public law. The purpose of this paper is to work out guidelines for public sector in Poland in terms of two stages of the risk management process: risk identification and risk assessment. For proper risk identification and assessment two issues were initially undertaken: developing a clear definition of risk and selecting risk management approach. The author worked out risk typology which can be applied in the public sector risk management process and recommended some risk identification methods. Risk assessment is presented as a two-stage process. It includes risk analysis, which precedes risk evaluation. Met)