Administrative risk management process for federal state functions: defining stage definitions

Abstract

Revealing the essence of the risk management mechanism, the author concludes that it is necessary to refer to the risk management procedure in corporate management. Having studied the stages of corporate risk management, the author proposes to adapt them to the implementation of control and supervision functions by the federal executive authorities in the established field of activity. Attention is drawn to the fact that there is no consensus in science about which stages the risk management process covers. Approaches to the interpretation of the concept of risk in the legislation are given.
The research methodology is formed by the dialectical-materialistic method of cognition and
the general scientific and specific scientific methods based on it (comparison, analysis, deduction, induction, formal-logical, comparative-legal, formal-legal, system-structural methods, and the method of interpretation). In connection with the above, the paper proposes a description and a list of universal stages of risk management. Taking into account the general theory of management and the corresponding standards, the author distinguishes four stages: identification, assessment, processing and monitoring of risks.