Optimal risk management technology as a tool for ensuring the reliability of solutions made in the digital economy

Theoretical bases of economics and management

The modern stage of risk management development is marked by discrepancy between the implemented risk management systems and the real risk situation, and the degree of their impact on the goals, results and effectiveness of organizations. Based on the principles of the process approach and
the digital paradigm of risk management, the concept of optimal risk management was formulated for the first time and a technology for its implementation was proposed by optimal structural and parametric synthesis of unstructured integrated risk management system, taking into account the methods and extent of risk treatment. Optimal management is considered as a problem of optimal structural and parametric synthesis of RMS using effectiveness criteria - optimality criteria or excellence criteria, depending on the purpose and statement of the problem. The problem belongs to the class of multiextremal nonlinear programming problems with distributed variables of mixed type and functional constraints in the form of inequalities, which was solved using digital risk assessment methods developed by the author, global random search procedures and mixed-integer optimization models of block type. To assess the comparative effectiveness of risk treatment methods, a modification of the Houston model was developed according to the criterion of the value of organization, provided that the goal was achieved and resources were limited. An important difference in the Houston model modification is the cost
assessment of risk in terms of the “cost of risk”. The author’s research and the practice of optimal design show that the use of structural and parametric optimization technology and mixed-integer optimization models of block type can lead to a significant, on average, 50-60%, increase in the RMS effectiveness. The new digital risk management paradigm is logical, reflects the result of modern digital technologies introduction in risk management practice, provides for the rejection of the hypothesis about the normal distribution of the output parameters of the ecosystem under study, and the preservation of the required information content of the “digit” in the context of process approach. The use of digital technologies and methods of optimal risk management provides the reliability of economic solutions important for practical purposes and provides new opportunities for effective management in the digital economy.