The Effectiveness of Risk Management in the Public Administration System: Assessment Tools

Abstract

Introduction. In the context of growing uncertainty and a large number of threats of various origins, risk management is of particular importance in the public administration system. The article focuses on the theoretical and practical aspects of creating an effective set of tools for assessing the effectiveness of risk management in the short and long term. In particular, the risk assessment model is considered, which includes the development of a relationship matrix, the use of correlation analysis and the creation of an integrated risk index. The aim of the work is to increase the accuracy of forecasts and the relevance of management decisions by introducing integrated risk assessment methods, taking into account the socio-economic conditions of the Donetsk People's Republic. Methods. The methodological basis of the analysis is based on a combination of quantitative and qualitative approaches, which makes it possible to more fully assess the complex relationships between different types of risk. Results. The results of the study highlight the importance of integrated integration of risk-based approaches into public administration to ensure sustainability. This model not only helps to reduce the overall risk, but also allows for more efficient allocation of resources in limited conditions. The practical application of the obtained results can be implemented in various fields of public administration, including economic policy, social security and environmental safety, which makes them relevant in the context of modern problems and threats. Thus, the work represents a significant contribution to the development of effective risk management in public administration. Discussion. The proposed methodology is being successfully implemented in the conditions of the Donetsk People's Republic, demonstrating its effectiveness in forecasting socio-economic risks. Further development of the research can be seen in adapting the model for real-time risk monitoring using big Data technology. The implementation of the developed approaches to the practice of the authorities will contribute to the creation of a solid foundation for the sustainable development of the region in the face of modern challenges.