The importance of the public university's operational risk management system: literature review


The public university operates in a complex, fast-changing environment, and is faced with a variety of risks (operational and strategic) that prevent it from achieving the expected performance. Strategic risks are associated with strategic choices and are difficult to assess, unlike operational risks, which are linked to operations, i.e. legal aspects (e.g. changes in legal texts), technological aspects (e.g. changes in technology), information systems (e.g. failure to digitize information), human aspects (mismatch between staff profiles and positions held), management and procedures (e.g. failure of internal control systems), and so on. This explains why public universities choose to manage operational risks. In many cases, this involves setting up and using systems that form what is known as an operational risk management system.

Through a literature review, this work shows the importance of the operational risk management system for the functioning of the public university. Few studies have examined the relationship between these two variables in public university environments.

The literature has shown that the operational risk management system of public universities is based on a management process that centred on context definition, risk identification, analysis, assessment, treatment, communication and follow-up. Its effectiveness is conditioned by certain elements (a risk culture, a risk management policy and a risk manager) and its implementation contributes systematically to improving operations through organizational learning, innovation and internal control.


Key words: Risk, operational risk management system, public university.

JEL Classification: G32

Article Type: Theoretical Research


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How to Cite
GAZOULIT, S., & OUBAL, K. (2023). The importance of the public university’s operational risk management system: literature review. International Journal of Accounting, Finance, Auditing, Management and Economics, 4(4-1), 362-378.