Methodology of Risk Management Assessment at an Industrial Enterprise

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Abstract

This article presents the theoretical foundations of risk management at an industrial enterprise. The essence of the concepts “uncertainty”, “risk” is described, and reasons for uncertainty in the management of an industrial enterprise are given. A brief description of the main elements of the risk management process is also presented. Information exchange and consultation are identified as components of risk management; definition of the scope of application, context and risk criteria; risk assessment (including identification, analysis, and risk assessment); risk response; risk management monitoring and verification, documentation and reporting. Approaches to assessment of quality and efficiency of risk management at an industrial enterprise are recommended. In particular, it is proposed to assess risk management on the basis of its compliance with the requirements and expectations of external regulators and stakeholders; to analyze the completeness and literacy of the underlying risk-management principles; success of management decisions implementation that are taken with the use of risk management, as well as on the basis of methods used to analyze the attractiveness of investments. We believe that the use of described approaches will contribute to improving the quality and efficiency of risk management, as well as achieving goals of industrial enterprises. In this study used a complex of scientific methods, including a systematic approach, logical analysis, and synthesis, the study of scientific literature and formalization.

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Potashnik, Y. S., Kozlova, E. P., Kuznetsova, S. N., Tsymbalov, S. D., & Chelnokova, E. A. (2020). Methodology of Risk Management Assessment at an Industrial Enterprise. In Lecture Notes in Networks and Systems (Vol. 129 LNNS, pp. 265–271). Springer. https://doi.org/10.1007/978-3-030-47945-9_29

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