THE PROCESS OF RISK ASSESSMENT IN THE PUBLIC SECTOR ORGANIZATIONS

Abstract

The conditions of the public sector organizations approached to the corporate sector organizations. That kind of conditions may include: the high level of competition, a plurality of internal and external communications, the variability of the external environment, scientific and technical progress, constraints of resources, the lack of time and other factors that can determine a high level of uncertainty and risk in the business process of organizations. Risk-management is a traditional element of a corporate management. More and more companies, includes government companies, realize that fact – it's impossible to conduct successful business without quality risk-management system. It's useful also in public sector due to changes in the status of public organizations, appearance of autonomous and new public organizations, which have new qualitatively law set authority and responsibility. The most important part of risk management process is risk assessment, which consists of three main parts. More details can be found in this article.