THE IMPLEMENTATION OF RISK MANAGEMENT IN THE GOVERNMENT
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Date
2020-02
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The British University in Dubai (BUiD)
Abstract
The theory of risk management is meant to effectively manage the problems faced by a government agency or business organizations. Risk are generally measured as an obstacle that limits the operative functions of business organizations or a governmental agency. The scope of threats is more in the governmental activities of a country, as the government has to control the external and internal matters of the entire country. This research sheds light on the necessity of risk management in government agency of the UAE particularly in the digital departments of the Ajman Government. This study also focuses on recognizing the various types of risk faced by the government agencies in operating numerous actions and also the agenda for classification and mitigating the risks. The paper gives a clear vision of the dangers including globalization, financial troubles, and technological risks and more; these risks not only create hazardous situations for the government in controlling operations but also affect the development process of any country. This study involves creating a framework to identify and mitigate the risks by using quantitative and qualitative methods of data collection. The information and material about this topic are composed by questioning the government officials and employees. Also, a survey was conducted and the officials and employees were asked to participate and provide their valuable information in regards to effective risk management functions initiated by their governmental agency. Besides, the study has been finalized by using appropriate research methods, tools and techniques.
The paper also provides some future scopes to conduct research about the procedures and strategies of overcoming or managing the risks faced in various governmental activities. Therefore, ultimately this paper provides foresight and ability to control the risks and increase the efficiency of the government regarding risk management.
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Keywords
risk management, United Arab Emirates (UAE), business organizations, digital departments, Ajman Government