SPFU is developing an Early Response Systemto risks in the field of state property management

On June 29, 2023, the State Property Fund and representatives of the "Pravo - Justice" Project held a working meeting and discussed the plan of further activities regarding the development of a single proactive management Early Response System(ERS)for risk management of enterprises that are assigned to the sphere of management of the SPFU.

State property management includes planning, financial management, property condition monitoring, control over proper use and development of assets, as well as risk minimization. The creation of an ERS to risks in this area will help timely management decisions to achieve maximum results in the interests of the state and citizens.

"Of course, the successful implementation of a project of this scale requires comprehensive research. For this, along with the legal analysis, a detailed audit of the Fund's internal activities and procedures is conducted. This will help establish the current statusand identify possible problems, as well as create a road map for the creation and implementation of the IT component of the system," said Oleksandra Shostak, project manager of the IT of the SPFU.

ERS will detect risks at early stages through the automated use of sets of indicators that allow tracking changes in the actions of each business entity and apply appropriate early response strategies.

"Implementation of the system in the State Property Fund of Ukraine will provide an opportunity to predict a risk event based on signs, each of which individually does not lead to default, but allows organizing the process of additional monitoring for the purpose of proactive intervention", - said Iryna Zharonkina, head of the component for the protection of property rights and implementation of the EU Project "Pravo - Justice".

Currently, in a short period of time, the project experts have already conducted a large-scale preparatory study, in particular, an analysis of Ukrainian and international norms and standards of risk management in the field of asset management, studied the model and notation of processes, and are also developing technical requirements for creating an ERS system.