scholarly journals EFFECTIVE RISK MANAGEMENT AND ITS DETERMINING FACTORS

2021 ◽  
Author(s):  
Oksana Netrebskaya
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Control System ◽  
Management System ◽  
Risk Groups ◽  
Expert Assessment ◽  
Security Risks ◽  
Risk Management System ◽  
Determining Factors

The article deals with the risk factors in the forestry of the country. The functions of risk management, implemented in forestry as a control system and a subsystem of management, are presented. The system of minimization of managerial risks and their consequences operating at the level of the federal forestry agency is considered. The results of an expert assessment of complex risk groups, and the most significant of them, are presented. The most significant and entailing serious risk consequences are strategic (programmatic), financial, commercial risk factors, as well as security risks, climatic and personnel risks. The need to modernize the existing forestry risk management system in a direction that provides greater transparency of information required for management has been determined.

scholarly journals Risk management system in the enterprises of agrarian sphere

2019 ◽  
Vol 16 (5) ◽  
pp. 10-21
Author(s):  
V. G. Zakrzewski ◽  
O. G. Charykova ◽  
Yu. Yu. Golubyatnikova
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Economic Activity ◽  
Management System ◽  
Risk Identification ◽  
Assessment Development ◽  
Agrarian Sector ◽  
Risk Management System ◽  
Management Measures ◽  
Definition Of

The article deals with risk management systems at enterprises of the agrarian sector, which represents an organization of economic activity, the purpose of which is to minimize losses and find sources of income. The research organization of the risk management system in the enterprises of agrarian sphere great attention should be paid to the integration of their specific activities. The process of risk management in enterprises consists of the following phases: definition of objectives and parameters for solving the problem of risk; identification of external and internal risk factors; identification of risk factors, risk identification; risk analysis; risk assessment; development and implementation of risk management measures; synthesis of the results of measures taken and preparing proposals. In addition, the risk management system is submitted to us through the introduction of a passport of risk, to enable the formulation and adjustment of economic activity at any stage of its implementation. Under the risk passport of the economic risk refers to a collection of information about risk, risk criteria, as well as guidance on the application of the necessary methods to manage or mitigate the risks. As well as the information in the article was considered in the context of a risk management system. 

scholarly journals ANALYSIS AND PRIORITIZING RISK MINIMIZING TECHNIQUES OF IT PROJECTS

2021 ◽  
pp. 6-12
Author(s):  
Jalal Elbaruni ◽  
Olena Bielova ◽  
Viktor Melenchuk
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Information Management ◽  
Management System ◽  
Information Management System ◽  
Matrix Analysis ◽  
Project Implementation ◽  
It Projects ◽  
Risk Management System ◽  
Dynamic Growth

This article is devoted to the risk analysis of IT projects. The article defines the risks of IT projects, classifies the key risks of IT projects and identifies the main sources of risks of IT projects. The analysis of risks of IT projects at introduction of information management system in realization of projects of the company is also presented. The possibility of risks of IT projects during the implementation of the management information system in the implementation of the company's projects is analyzed. And also the ways of minimization of occurrence of risks of IT projects at introduction of information management system in realization of projects of the company are offered. Under ideal circumstances, in modern organizations, project implementation reduces risks to zero. At the same time, in modern realities, it remains necessary to take into account risks and manage them as part of the organization when implementing projects. Nevertheless, risk minimization is effective for the dynamic growth of an organization or institution when implementing projects. The current trends in information projects in today's competitive world are fundamental and necessary for any project-oriented organization to manage risks in information outsourcing projects in an ideally complex task. Thus, this article examines the main factors that lead to the emergence of risks, based on modern scientific sources from leading researchers in the field of project management, taking into account the peculiarities of developing an optimal risk management system in an organization when implementing projects, as well as the implementation of such a system under various scenarios of projects’ implementation in organizations. A structure aimed at improving the risk management system in organizations during project implementation is also proposed. The study found that prioritization in the consideration of project risks, as well as risk factors, helps to correlate the risk of the project and the risk of the company itself. Prioritizing the response to risk factors and their strength of influence, considering the time, volume and quality of risks are of paramount importance for the dynamic growth of the organization and allow to conduct a matrix analysis of risks, and then propose ways to minimize risk.

NOM-035-STPS-2018

2022 ◽  
pp. 64-71
Author(s):  
Raul Martinez-Balderrama ◽  
Gabriela Jacobo Jacobo-Galicia ◽  
María Elizabeth Ramírez- Barreto ◽  
Judith M. Paz-Delgadillo ◽  
Samantha E. Cruz-Sotelo
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Management System ◽  
Psychosocial Risk Factors ◽  
Psychosocial Risk ◽  
Management Systems ◽  
Present Evidence ◽  
Risk Management System ◽  
Review Articles ◽  
Statistical Validity

Looking at the structure of NOM-035-STPS-2018, there is an assumption that there are areas of opportunity to improve the implementation of the standard. Thus, the purpose of this research is to identify through a review whether there are areas of opportunity that can improve the implementation of NOM-035. For the review, articles addressing the psychosocial risk factors evaluation were selected and analyzed. Four topics of discussion were identified: impact of psychosocial risk factors, policy and regulations, management systems, and evaluation of psychosocial risk factors. Subsequently, a synthesis was made, and it was found that there are three areas of opportunity to improve NOM-035-STPS-2018: it does not have a risk management system, its instruments do not present evidence of statistical validity, and the instruments do not take into account indicators of consequence.

CONCEPTUAL MODEL OF INDUSTRY RISK MANAGEMENT FOR THE OIL AND GAS INDUSTRY IN A DIGITALIZATION ENVIRONMENT

2020 ◽  
Vol 13 (4) ◽  
pp. 191-198
Author(s):  
T.I. Lomachenko ◽  
Keyword(s):  
Risk Management ◽  
Conceptual Model ◽  
Management System ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Risk Groups ◽  
Energy Sector ◽  
Active Involvement ◽  
Risk Management System ◽  
Industry Risk

Improvement of the risk management system in the oil and gas complex is especially important in view of the ongoing changes in the global energy industry, as well as during the global spread of the COVID-19 pandemic, which has a direct impact on many areas of life. Risk assessment specialists have clearly underestimated the scale of risks and threats associated with this. Russia’s energy policy is presented in the Energy Strategy of Russia for the period until 2035, which sets out the main goals, objectives, quantitative benchmarks and mechanisms for their achievement. However, the problem of long-term risk management in the energy sector, namely, early identification, assessment and substantiation of risks, is one of the priorities in this area, which will ensure support for positive and strategically verified, including innovative solutions [1. P. 32; 2. P. 102]. The importance of these solutions makes the problem of risk management in the energy sector extremely important and urgent. The article reveals the specific features of the oil and gas complex at the current stage, describes the industry in a pandemic, defines the main risk groups of oil and gas companies, such as general and specific risks, as well as subjects of risk management system. Complex conditions of restrictions are considered, under which the need to preserve business requires optimization of the technological 198 Экономические системы. 2020. № 4 Economic Systems. 2020. No. 4 process, including by reviewing the functionality of employees, systematization of document flow in electronic format, the transfer of production processes to a digital platform. The scientific innovation of the research lies in the development of a conceptual model of industry risk management of the oil and gas complex enterprise, which allows the system to regulate strategic, design, operational and production relations and interactions between functional departments, departments, services of the company involved in risk management and their active involvement in the process of creating and maintaining the value of the business in conditions when the risks are becoming increasingly complex and interrelated, using digital and innovation.

scholarly journals Methodical Approaches to the Organization of Risk Management System for the Use of Electronic Payment Systems in Modern Conditions

2021 ◽  
Vol 17 ◽  
pp. 1064-1075
Author(s):  
Voitko Sergey ◽  
Vladislava Usyk
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Management System ◽  
Block Diagram ◽  
Risk Management System ◽  
Enterprise Risk ◽  
Effective System ◽  
Strategic Goals ◽  
And Mathematics ◽  
Methodological Aspects

The aim of the study is the formation of scientific and methodological aspects of the organization of the enterprise risk management system in modern conditions. Achievement of this goal is ensured by the use of tools of economic and mathematical modeling and parametric forecasting of financial indicators, taking into account risk factors. Functioning of enterprises in the minds of enhancing volatility and insignificance is unwise without an effective system and risk management. It is grounded, that the activity of the enterprises needs to be examined, as an integral system for reaching the strategic goals in the context of the elements of this system. Methods for the formulation of scientific-methodical ambushes, the organization of risk-management at the enterprises has been refined, the management system has been broken up with the use of innovative methods and tools in management, objects, subject of the system. The structural-logical block diagram of the control of the risers was grounded in the boundaries of which the groups of risks were formed: financial, operational, and functional. It has been brought to the point that the key tools for managing the representations of groups in the form of parametric economics and mathematics models. For the value of the significance of the risk factors and the efficiency of the financial inputs of the processes in the current minds, the extrapolation forecasting tools are stuck. Based on the analysis and assessment of key risk factors in Ukrainian banks, it has been brought to the attention that it is necessary to control the indicators of efficiency and sensitivity to the change of high rates and the change in the form of management of the system and the hour of development. The interrelation of the effective indicators of the efficiency of banks and the efficiency of financial inputs in the case of variations in the risk factors has been established. It is intended that, in order to ensure the efficiency of enterprises, it is necessary to establish all the risk factors and scenarios of their behavior for the future in the minds of continuous volatility.

scholarly journals The effectiveness of risk management system and firm performance in the European context

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Louai Ghazieh ◽  
Nadia Chebana
Keyword(s):  
Risk Management ◽  
Control System ◽  
Management System ◽  
Stock Exchange ◽  
Management Systems ◽  
Management Committee ◽  
Content Type ◽  
European Context ◽  
Risk Management System ◽  
Risk Management Committee

PurposeThe purpose of this paper is to study the effectiveness of the risk management system in the European context, especially with regard to the risk management committee, the uncertainty of the environment and company performance. In summary, it evaluates European companies listed on the stock exchange in France, Germany and the United Kingdom to determine how risk management systems influence financial companies' performance.Design/methodology/approachTo study the effectiveness of risk management systems and their influence on performance, the large companies selected in our sample are fairly representative of the European market, according to the Dutch indices of each country (SBF 120 in France, HDAX 110 in Germany and FTSE 100 in United Kingdom).The empirical evidence is based on an international quantitative analysis, using a data set involving 320 companies listed on the stock exchange over a ten-year period from 2005 to 2014.FindingsThe results indicate that the establishment of a risk management and control system by a company positively influences its management, and its performance level and value creation also improve. The results of this study demonstrate a significant strengthening of the role of the risk management committee in the three countries. The surveillance function is reinforced, and in particular, the internal control system is accentuated.Research limitations/implicationsThis study has some limitations that can form leads for future research. One of these limitations is the sample size. The authors have represented the European context by three countries that certainly constitute great European powers, but have regulations different from other countries. The company size is also a possible research element. Indeed, risk management system varies between large, small and medium-sized enterprises, so it is important to study each type of company well.Originality/valueThis study identifies the risk management committee as a mechanism of control that is highly important in the company, and it proposes an international framework that comparatively and empirically evaluates how the risk management system used in large European companies can improve their financial performance.

scholarly journals The Effects of Risk Management System on Financial Performance of Commercial Banks in Rwanda: A Case of Cogebanque Ltd.

2016 ◽  
Vol 3 (3) ◽  
pp. 77-84
Author(s):  
Mireille Hitimana ◽  
Julius Warren Kule ◽  
Peter Mbabazi Mbabazize
Keyword(s):  
Risk Management ◽  
Control System ◽  
Financial Performance ◽  
Commercial Banks ◽  
Management System ◽  
Preventive Control ◽  
Return On Equity ◽  
Risk Management System ◽  
Spss Software ◽  
The Relationship

This research study entitled an Assessment of the Effect of Risk Management System on Financial Performance of Commercial Banks in Rwanda aimed at assessing risk factors that performance of commercial banks like credit risk, embezzlement, theft and among others. Three specific objectives were formulated namely; to analyze the effect of directive control system on Financial Performance of Cogebanque Ltd; to establish the effect of preventive control system on Financial Performance of Cogebanque Ltd; to examine the effect of detective control system on Financial Performance of Cogebanque Ltd. The study examined risk management system and financial performances in Cogebanque Ltd located in Kigali City for a period of four years from 2011-2014. The study used descriptive design. A sample size of 40 staff of Cogebanque Ltd, participated in the study. SPSS software (version 22) was used to process the data and analysis were made by use of frequency/percentages, mean and standard deviation. The relationship between the variables was established by use of Pearsons correlation.  The study established that different risk management systems which consist of directive control system, preventive control system and detective control system. The study revealed that risk management system has improved Cogebanque bank’s return on investment, profitability, liquidity, return asset and return on equity and loan returns by 72.7%.  

Customs Risk Management System in the Context of Clearance of Customs Procedures

2020 ◽  
Vol 22 (1) ◽  
pp. 59-63
Author(s):  
Ihor Nestoryshen ◽  
◽  
Ivan Berezhnyuk ◽  
Alina Brendak ◽  
◽  
...  
Keyword(s):  
Risk Management ◽  
International Trade ◽  
Economic Activity ◽  
Management System ◽  
Control Measures ◽  
International Treaties ◽  
External Threats ◽  
Risk Management System ◽  
Operational Activities ◽  
International Conventions

Introduction. The article emphasizes that the current features of the implementation of foreign economic activity require consideration of two factors that are contradictory to each other. In particular, on the one hand, the growth of external threats is forcing the governments of many countries to tighten control measures when crossing the state border of goods and commercial vehicles. On the other hand, according to international conventions and agreements (Kyoto Convention, WMO Framework Standards for Security, WTO Facilitation Agreement), measures to reduce the interference of regulatory authorities in the operational activities of economic operators are envisaged. In this context, the use of risk-oriented customs control tools, which allow simplifying business without reducing the level of national security, is becoming especially important. Purpose. The purpose of the article is to generalize and systematize foreign and domestic approaches to simplification of customs procedures through the use of risk-oriented instruments of customs control, as well as to develop their own proposals for simplification of foreign trade entities in the domestic regulatory field by using subject-oriented criteria. Results. The authors analyzed the provisions of the International Convention on the Simplification and Harmonization of Customs Procedures, the Framework Standards for Security and Facilitation of International Trade, the WTO Agreement on Trade Facilitation, which are provided for significant simplification of international trade procedures by reducing the share of customs inspections and controls. Сustoms security, customs clearance of goods and vehicles on the territory of the subjects of foreign economic activity or in another place permitted by the customs, without the direct participation of customs officials. These measures are based on the widespread use of risk-oriented instruments of customs control. It is noted that some of the provisions of international conventions and agreements on the use of risk-oriented instruments of customs control and simplification of economic operators have been implemented in domestic customs legislation, namely Art. 320 of the Customs Code of Ukraine introduced selective customs control, it is determined that the forms and scope of control sufficient to ensure compliance with legislation on state customs and international treaties of Ukraine in customs clearance are selected by customs (customs posts) based on the results of risk management. Conclusion. The study analyzes the peculiarities of the customs risk management system application in customs control in Ukraine, and offers proposals for the use of subject-oriented criteria of customs control as a simplification for honest economic operators to reduce the selectivity of risk profiles ASUR.

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