BASIC METHODS FOR IDENTIFYING AND MANAGING RISK IN PUBLIC AND PRIVATE SECTOR ORGANIZATIONS
BASIC METHODS FOR IDENTIFYING AND MANAGING RISK IN PUBLIC AND PRIVATE SECTOR ORGANIZATIONS

Summary/Abstract: The manager must see the most significant risks that threaten the organization. In this way, covering its entire activity, it is possible to create a detailed list of risks related to the achievement of the set goals. In the identification process, the type of risk, the probability of its occurrence, spatial localization, possible damage and other parameters are revealed. In this way, covering the entire activity of the enterprise, it is possible to create a detailed list of risks related to it and to the achievement of the set goals. Given the breadth of the issues under consideration, in this article the focus is placed on the main methods for identifying and managing risk in organizations. The purpose of the article is to explore and present the main methods for identifying and managing risk in organizations. Research method: For the purposes of the present study, combined methods of analysis and synthesis of information, as well as theoretical analysis, were used. The article applies a systematic analysis of a database of publications in specialized journals and sites on the main methods of identifying and managing risk in organizations. Results: Choosing the best method depends on the specific business and its risks. The responsible risk manager must assess the business and provide the most appropriate methods. The choice also implies a good knowledge of all methods, as researchers should argue both the chosen methods and the rejected ones. In this way, the responsibility of the choice made is emphasized.

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