2021Issues of Risk AnalysisOpen access

Formation of a Comprehensive Model of the Risk Management System of a Coal Mining Enterprise

Andrey Vladimirovich Velikoselsky, Yu. A. Kluchnikova

Open full text 2 citations

Abstract

In the conditions of market competition, the ability of companies to timely identify risks in the conduct of business activities and find adequate ways to eliminate them is one of the advantages and allows you to maintain a high position in any industry. This option is maintained under the condition that the risk management system is built based on the real needs of the business in maintaining a competitive position in the conditions of high uncertainty of the external and internal environment. The article reveals an approach based on the integrated model of the risk management system, provides a scheme and description of the integrated model, as well as methodologies used for assessing and ranking risks. The presented approach allows for comprehensive risk management at all levels, monitoring and timely implementation of risk management measures. The relevance of the presented approach is also due to the need to combine the requirements of different international standards for management systems in terms of risk management into a single consistent system.

Open-access reader

About this research paper

What this paper is about

In the conditions of market competition, the ability of companies to timely identify risks in the conduct of business activities and find adequate ways to eliminate them is one of the advantages and allows you to maintain a high position in any industry. This option is maintained under the condition that the risk management system is built based on the real needs of the business in maintaining a competitive position in the conditions of high uncertainty of the external and internal environment. The article reveals an approach based on the integrated model of the risk management system, provides a scheme and description of the integrated model, as well as methodologies used for assessing and ranking risks. The presented approach allows for comprehensive risk management at all levels, monitoring and timely implementation of risk management measures. The relevance of the presented approach is also due to the need to combine the requirements of different international standards for management systems in terms of risk management into a single consistent system.

Why it matters

OpenAlex reports 2 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

In the conditions of market competition, the ability of companies to timely identify risks in the conduct of business activities and find adequate ways to eliminate them is one of the advantages and allows you to maintain a high position in any industry. This option is maintained under the condition that the risk management system is built based on the real needs of the business in maintaining a competitive position in the conditions of high uncertainty of the external and internal environment. The article reveals an approach based on the integrated model of the risk management system, provides a scheme and description of the integrated model, as well as methodologies used for assessing and ranking risks. The presented approach allows for comprehensive risk management at all levels, monitoring and timely implementation of risk management measures. The relevance of the presented approach is also due to the need to combine the requirements of different international standards for management systems in terms of risk management into a single consistent system.

Key concepts: Risk management, Risk analysis (engineering), Ranking (information retrieval), Relevance (law), Position (finance), Enterprise risk management, Business, Risk management information systems

Related papers

Back to paper searchBrowse research topicsOriginal source
Formation of a Comprehensive Model of the Risk Management System of a Coal Mining Enterprise — Research Paper | ScholarLens