Educational activities of higher schools: Risk management

Abstract

Subject. The article analyzes principal risks and threats in education. We substantiate scientifically that education is one of the key elements in economic security of the State since higher schools train highly qualified professionals for crucial sectors of the market. Objectives. We identify principal groups of risks associated with educational activities of higher schools and figure out whether they develop and implement risk management systems. Methods. The research draws upon methods of factual data observation and collection, historical and logic methods, analysis, synthesis, etc. Results. We examine key approaches to risk classification in education. The article also analyzes risk factors and identifies critical risks associated with educational activities of higher schools. Conclusions and Relevance. We outlined the risk map by negative consequence and probability of a risk. Using the risk map, we detect five groups of the most critical risks, i.e. rapidly outdated knowledge risk, budgetary finance risk, professional personnel risk, risk of educational program inconsistency with the labor market and risk of universities' competitiveness in the global market