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New development: Integrating risk management in management control systems—lessons for public sector managers

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  • Tarek Rana
  • Danture Wickramasinghe
  • Enrico Bracci

Abstract

Exploring multiple dimensions of management control systems (MCS), this article proposes a new framework to integrate risk management with strategy, MCS and performance measurement systems (PMS). Considering the public sector as a focal point, the article points to some enterprise risk management (ERM) issues and argues that ERM-enabled MCS has potential to improve PMS and strategic decision-making, leading to a more proactive risk management framework and a culture that promotes performance driven accountability. Consequently, the article calls for further research towards solving the public sector’s risk management problems, motivating its managers to adopt best practices, and stimulating suitable policy developments.

Suggested Citation

  • Tarek Rana & Danture Wickramasinghe & Enrico Bracci, 2019. "New development: Integrating risk management in management control systems—lessons for public sector managers," Public Money & Management, Taylor & Francis Journals, vol. 39(2), pages 148-151, February.
    • Handle: RePEc:taf:pubmmg:v:39:y:2019:i:2:p:148-151
    DOI: 10.1080/09540962.2019.1580921
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    Cited by:

    1. Elena A. Fedchenko & Lyubov V. Gusarova & Inna M. Vankovich & Alexander S. Lozhechko & Anastasia A. Lysenko, 2023. "Risk-Based Assessment of the Performance of Territorial Bodies of the Federal Treasury of the Russian Federation," Risks, MDPI, vol. 11(11), pages 1-17, November.
    2. Luca Papi & Riccardo Ievoli & Giorgia Gobbo & Enrico Deidda Gagliardo & Lamberto Manzoli, 2021. "Performance governance per la generazione di Valore Pubblico in sanit?. Evidenze empiriche dalle aziende sanitarie dell?Emilia-Romagna," MECOSAN, FrancoAngeli Editore, vol. 0(117), pages 27-58.
    3. Monia Castellini & Vincenzo Riso, 2023. "The Role of Citizens in the Municipalities? Risk Management Process: An Overview in Italy," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2023(1), pages 143-163.
    4. Aldona Frączkiewicz-Wronka & Tomasz Ingram & Karolina Szymaniec-Mlicka & Piotr Tworek, 2021. "Risk Management and Financial Stability in the Polish Public Hospitals: The Moderating Effect of the Stakeholders’ Engagement in the Decision-Making," Risks, MDPI, vol. 9(5), pages 1-23, May.
    5. Monia Castellini & Vincenzo Riso, 2023. "Risk Management in Practice: A Multiple Case Study Analysis in Italian Municipalities," JRFM, MDPI, vol. 16(1), pages 1-15, January.
    6. Monia Castellini & Vincenzo Riso, 2020. "Risk Management and Management Control System, a close relationship in process: Isomorphism in the Italian Municipalities," Working Papers 2020039, University of Ferrara, Department of Economics.
    7. Manuela Lucchese & Giuseppe Sannino & Paolo Tartaglia Polcini, 2020. "Il risk management approach nelle Universit? italiane: prime riflessioni su vincoli e opportunit?," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2020(1), pages 111-136.
    8. Monia Castellini & Caterina Ferrario & Vincenzo Riso, 2021. "From New Public Management to Public Risk Management: An overview of Italian municipalities," Working Papers 20210310, University of Ferrara, Department of Economics.

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