Risk Management in the Public Sector: A Proposed Reference Model and Tool Survey

Abstract

Risk management is a constantly recommended practice by boards of directors and for corporate governance worldwide. This fact stems from the uncertainties encountered daily by private and public organizations, in the face of changes in external and internal environments, through technological innovations, interpersonal relations, economic crises, and governance, among others. Knowing the risks means identifying the threats to which an organization is exposed and perceiving opportunities. Therefore, this study intends to identify and deepen the knowledge about the main risk management methodologies adopted in both private and public environments in Brazil. The study uses a qualitative descriptive process that leads to specific and cumulative results by investigating the general essences of the methods of risk management. The theoretical basis is necessary to support the research under the ForRisco project (“Risk Management in Federal Universities: elaboration of reference model and system implementation”), where the present test was started, for the purpose of launching its own methodology (ForRisco) that focuses on the interests of risk management in public higher educational institutions in Brazil. The project aims to launch a guidebook and software that promote and direct risk management in these institutions. All the investigated methodologies corroborate the promotion and the understanding of a risk management process based on a clear and well-defined structure. Finally, the ForRisco methodology is distinguished for the relationship between public higher educational institutions and risk management processes that are more secure and consistent with the Brazilian public administration.