Economic security in procurement of budgetary institutions

Abstract

Subject. We consider risks to economic security in procurement of a budgetary institution. Objectives. The focus is on diagnostics and monitoring of economic security in procurement for subsequent elaboration of recommendations to minimize the impact of threats in the process of ensuring economic security. Methods. The study draws on the analysis of data from the official website of the ASTU and the Unified Information System for Procurement. We employ statistical and analytical methods to assess the probability of occurrence of adverse events (risk realization). Results. We reviewed procurement activity of a budgetary institution, produced a map indicating the risks of a budgetary institution, calculated the indicators of economic security in procurement of this type of institutions. Conclusions. The analysis identified weaknesses of a budgetary institution and risk exposure in procurement. Control and monitoring of the process and its results will enable contractual procurement system to operate with greater stability in terms of economic security. Preliminary control, affecting the effectiveness and efficiency of procurement by means of quality, will also have a great impact. Quality products, works or services are the key to effective procurement.