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Automatic Information System of Risk Assessment for Agricultural Enterprises of Ukraine

Author

Listed:
  • Vitalii Nitsenko
  • Abbas Mardani
  • Justas Streimikis
  • Mykola Ishchenko
  • Marina Chaikovsky
  • Svitlana Stoyanovakoval
  • Ruzanna Arutiunian

Abstract

An information system (IS) for analyzing, assessing risks and their impact on the economic activity of agribusiness in Ukraine is developed. The Global Administrative Risk Management System can use this information system or its parts as a component. A new method for designing IS for risk analysis and assessment in the sphere of agriculture is suggested. An original mathematical model of such an IP is used. This mathematical model is specifically designed to reduce the IS resources’ expenditures. A significant reduction in the volume of calculations per unit of time has made it possible to significantly simplify IS and to reduce the price of hardware and standard IS software. This makes the information system an affordable budget option for information support of small and medium-sized agricultural enterprises in Ukraine. To create a risk management model, it is suggested to separate the system of management and decision making and the system of risk monitoring. These two systems have different tasks and are implemented by fundamentally different mathematical algorithms.

Suggested Citation

  • Vitalii Nitsenko & Abbas Mardani & Justas Streimikis & Mykola Ishchenko & Marina Chaikovsky & Svitlana Stoyanovakoval & Ruzanna Arutiunian, 2019. "Automatic Information System of Risk Assessment for Agricultural Enterprises of Ukraine," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 15(2), pages 139-152.
    • Handle: RePEc:mje:mjejnl:v:15:y:2019:i:2:139-152
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    References listed on IDEAS

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    1. Kisaka-Lwayo, Maggie & Obi, Ajuruchukwu, 2012. "Risk perceptions and management strategies by smallholder farmers in KwaZulu-Natal Province, South Africa," International Journal of Agricultural Management, Institute of Agricultural Management, vol. 1(3), pages 1-12.
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