APPLICATION OF THE RISK REGISTER FOR EFFECTIVE ENTERPRISE MANAGEMENT IN THE CONDITIONS OF WAR

Abstract

The article highlights the need to improve risk management of national enterprises operating under extreme conditions of martial law in the country. The understanding of the categories of ‘risk’ and ‘risk management’ is generalised. The key external and internal factors influencing the risk management processes and ensuring their efficiency are outlined. The expediency of usage the risk register as a tool for identifying, ranking, assessing, controlling and managing threats that affect the activities of the enterprise is substantiated. The separation of recommendations on the organisation of risk control and management at enterprises of different types of activity is outlined, the need to develop an effective algorithm for the formation and usage of a risk register for small and medium-sized enterprises is emphasised. The expediency of periodic express risk analysis in order to adjust the register, which should be the basis of the enterprise risk management system, is indicated. On the basis of generalisation, the article proposes the procedure of formation of a risk register. A scale for assessing the probability of its occurrence, a scale for assessing the impact and consequences of risk, a template of a risk matrix based on the assessment of risk impact and probability of its occurrence, an indicative sample of a risk register are represented by authors. Authentication and ranking of risks, identification of their causes and sources, and the degree of negative/positive impact on various business processes contribute to the quality functioning of the system of warning, prevention and mitigation of risks. The article outlines the ways of responding to the identified risks, methods of management, control and reduction of various types of risks. Preventive measures to reduce the risks are systematised. They include raising safety and quality standards, training and development of personnel, development of clear procedures, regular audits and inspections, and monitoring of the security situation in the country's regions. The authors substantiate the expediency of using the register by national enterprises for systematic risk management under conditions of uncertainty.