Importance In infrastructure enterprises supplying electric power, gas and etc., almost all production costs relate to security and safeguarding of assets (power networks, pipe lines, etc.) and maintaining the tolerable risk. It necessitates a harmonious risk management system to consider all risk factors when preparing and taking managerial decisions. The article discusses foreign practices of setting up the risk management system and illustrates five infrastructure companies. Objectives To recognize the role of risk management for management practices, there should be an academic and regulatory framework, risk management systems that should be developed and implemented in companies. The article pursues analyzing these aspects and outlining proposals to converge the risk management system with the real production process. Methods The methodological framework consists of international and national standards on risk management, official information on disciplines and risk management programs in leading national and foreign universities, and official online resources and reports for shareholders of large foreign infrastructure companies. Results We analyzed approaches in foreign regulatory documents to determining key concepts and steps of risk management, and existence of respective disciplines in national and foreign universities. We proposed our criteria to evaluate the development of the risk management system and analyzed its development level in national and foreign infrastructure companies on the basis of the criteria proposed. Conclusions and Relevance As global practices show, theoretical and practical aspects of risk management are actively evolving. In the contemporary Russian practices of risk management, risks are systematized under national and international standards, and risk management disciplines are being actively included into the educational process.
Keywords: risk, risk management, infrastructure company
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