Proceedings of the International scientific and practical conference ―Oxford International Science Forum‖ (April 17-19, 2026) / Publisher website: www.naukainfo.com. - Oxford, United Kingdom, 2026. - 367 p.

24 • lack of competent, experienced specialists; • staff turnover; • vacant positions in the institution/ministry are not filled for a long time; • lack of proper personnel policy regarding motivation, encouragement, and promotion of career growth for qualified, professional people; • lack of proper quality control, internal audit, and monitoring systems; • budget/financial reporting does not comply with accounting standards, other regulatory and legal requirements, etc. In practice, there are different approaches to risk management. They can be overlooked or simply avoided (Fig. 3). In such circumstances, one should not expect the maximum possible result or significant indicators, the consequences of the work. Fig. 3 Risk management approaches Source: developed by the author Risks can be transferred to someone, for example, an outsourcing company, which will take on all responsibility for risk management. Risks can be reduced by using certain additional tools and mechanisms or accepted as they are. When we accept/take note of the identified risks, we are obliged to review them, both at the strategic and operational levels. Reviewing strategic risks provides an opportunity to verify the validity/truthfulness of the assumptions made. Risk management consists of finding a compromise between the costs of prevention, reducing the likelihood of their occurrence, and the benefits of using certain technologies, materials, tools, products, etc.