2018Vestnik MGSUOpen access

Organization and implementation of risk-management in building enterprise

Reza Barkhi, Victoria Borkovskaya

Open full text 1 citations

Abstract

Introduction. Consider the system of organization and implementation of risk management in the building enterprise. The introduction and management of risks in an industrial enterprise is an actual problem due to the occurrence of the following list of factors: incomplete information, elements of randomness, unpredictability of actions of a partner or competitor, among others. Risk management is a process that must begin at the development stage of a industrial company’s strategy, and necessarily with the participation of its owners, since it is the owners who, when developing a strategy, should determine the maximum level of total risk that the industry company will be ready to accept in the course of its activities. Risk management in industrial enterprises should be implemented within the framework of the system and process approaches, taking into account the specifics of the industry using modern effective management methods and production organizations, as well as using risk management tools. Materials and methods. The methodology of the continuous risk management process was used to study the industry organization and implementation of risk management, and systems analysis, modeling and synthesis methods were used. Results. It was determined that the creation of a risk management department is appropriate for effective risk management at the industry enterprise. The main responsibilities of this unit, including for staff and other users (including employees, consultants and contractors), in order to successfully implement the management strategy, require unconditional implementation to minimize risks and eliminate costs in implementing risk management. It was revealed that as a result of introducing risk management in industry enterprises of various industries, a set of measures should be developed to evaluate the operational risks of an enterprise, integral risk, quantitative assessment of which is based on a comprehensive analysis of financial and accounting reports, and conducting an integrated risk assessment based on all levels of responsibility within the industrial enterprise. Conclusions. Risk management at industrial enterprises should be carried out within the framework of the system and process approaches, taking into account the specifics of the industry using modern effective management methods and production industrial organizations, as well as using risk management tools.

About this research paper

What this paper is about

Introduction. Consider the system of organization and implementation of risk management in the building enterprise. The introduction and management of risks in an industrial enterprise is an actual problem due to the occurrence of the following list of factors: incomplete information, elements of randomness, unpredictability of actions of a partner or competitor, among others. Risk management is a process that must begin at the development stage of a industrial company’s strategy, and necessarily with the participation of its owners, since it is the owners who, when developing a strategy, should determine the maximum level of total risk that the industry company will be ready to accept in the course of its activities. Risk management in industrial enterprises should be implemented within the framework of the system and process approaches, taking into account the specifics of the industry using modern effective management methods and production organizations, as well as using risk management tools. Materials and methods. The methodology of the continuous risk management process was used to study the industry organization and implementation of risk management, and systems analysis, modeling and synthesis methods were used. Results. It was determined that the creation of a risk management department is appropriate for effective risk management at the industry enterprise. The main responsibilities of this unit, including for staff and other users (including employees, consultants and contractors), in order to successfully implement the management strategy, require unconditional implementation to minimize risks and eliminate costs in implementing risk management. It was revealed that as a result of introducing risk management in industry enterprises of various industries, a set of measures should be developed to evaluate the operational risks of an enterprise, integral risk, quantitative assessment of which is based on a comprehensive analysis of financial and accounting reports, and conducting an integrated risk assessment based on all levels of responsibility within the industrial enterprise. Conclusions. Risk management at industrial enterprises should be carried out within the framework of the system and process approaches, taking into account the specifics of the industry using modern effective management methods and production industrial organizations, as well as using risk management tools.

Why it matters

OpenAlex reports 1 citations for this work. Citation counts describe recorded attention and do not establish research quality.

Key contribution

A contribution statement is not available in the OpenAlex record.

Method / approach

Method details are not available in the OpenAlex metadata.

Main findings

Findings are not separately available in the OpenAlex metadata.

Limitations

Limitations are not available in the OpenAlex metadata.

Applications

Application details are not available in the OpenAlex metadata.

Available abstract

Introduction. Consider the system of organization and implementation of risk management in the building enterprise. The introduction and management of risks in an industrial enterprise is an actual problem due to the occurrence of the following list of factors: incomplete information, elements of randomness, unpredictability of actions of a partner or competitor, among others. Risk management is a process that must begin at the development stage of a industrial company’s strategy, and necessarily with the participation of its owners, since it is the owners who, when developing a strategy, should determine the maximum level of total risk that the industry company will be ready to accept in the course of its activities. Risk management in industrial enterprises should be implemented within the framework of the system and process approaches, taking into account the specifics of the industry using modern effective management methods and production organizations, as well as using risk management tools. Materials and methods. The methodology of the continuous risk management process was used to study the industry organization and implementation of risk management, and systems analysis, modeling and synthesis methods were used. Results. It was determined that the creation of a risk management department is appropriate for effective risk management at the industry enterprise. The main responsibilities of this unit, including for staff and other users (including employees, consultants and contractors), in order to successfully implement the management strategy, require unconditional implementation to minimize risks and eliminate costs in implementing risk management. It was revealed that as a result of introducing risk management in industry enterprises of various industries, a set of measures should be developed to evaluate the operational risks of an enterprise, integral risk, quantitative assessment of which is based on a comprehensive analysis of financial and accounting reports, and conducting an integrated risk assessment based on all levels of responsibility within the industrial enterprise. Conclusions. Risk management at industrial enterprises should be carried out within the framework of the system and process approaches, taking into account the specifics of the industry using modern effective management methods and production industrial organizations, as well as using risk management tools.

Key concepts: Risk management, Enterprise risk management, Process (computing), Risk analysis (engineering), Business, Process management, IT risk management, Operations management

Related papers

Back to paper searchBrowse research topicsOriginal source
Organization and implementation of risk-management in building enterprise — Research Paper | ScholarLens