Economic Analysis: Theory and Practice

Risk management at educational institutions

Vol. 16, Iss. 8, AUGUST 2017

Received: 1 June 2017

Received in revised form: 7 July 2017

Accepted: 25 July 2017

Available online: 29 August 2017


JEL Classification: I21

Pages: 1473–1485

Lavrishcheva E.E. Kovrov State Technological Academy named after V.A.Degtyarev, Kovrov, Vladimir Oblast, Russian Federation

Subject The article provides classification of major risks of an educational institution, considers possible ways to mitigate them, and illustrates an integrated approach to risk management on the case of a specific higher school.
Objectives The purpose of the study is to systematize methods of educational institutions' risk reduction and provide a rationale for their practical application.
Methods The research employs logical and grouping methods, sampling observation, calculation of performance indicators, tabular procedures for presentation of results.
Results The paper lists major risk sources for an educational organization, interprets traditional methods of risk mitigation, presents recommendations for the use of risk assessment results in the staff incentives system. On a particular higher school case, I consider projects and initiatives aimed at educational institution's risk reduction, identify important problems that are typical of many regional higher schools and require urgent solutions.
Conclusions The results of risk assessment should be a critical success factor to be applied in long-term and short-term development programs of higher schools. The degree of risk may be one of principal criteria for evaluating the activity of structural units when designing incentive schemes, ratings of departments, their heads and administrators.

Keywords: educational institution, risk source, risk management, integrated approach


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