Authors:

Olga A. CHERNOVA Dr. Sc. (Econ.), Professor of Information Economics Dept.

Abstract:

The article examines the role of the information factor in solving problems of effective management of water complex in a region (WCR). The purpose of the paper is to identify information risks and the factors affecting these risks. The methodology for studying the essence of information risk is premised on the basic provisions of water conservation theory, as well as general systems theory. The author considers information risk assessment from the standpoint of researching an information flow management mechanism. The method of the study is an iterative approach with an emphasis on the risks caused by the inefficient functioning of the organisational and management mechanism of the water complex, which results in the emergence of information asymmetry between its subjects. To assess risks, we propose to use an expert method. The paper proves that the information component is present in all the factors that generate risks in the functioning of the WCR. The emergence of the information risk is associated with the inefficiency of the used information and organisational interaction mechanisms of water management entities and the inconsistency of their joint actions in the elimination of failures in the work of the water complex. We establish the main avenues for reducing information risks in the WCR management. Accounting for information risks in the WCR management will contribute to the formation of a rational water consumption system in favour of the regional economy development and ensuring an increase in the quality and standard of living.

Keywords: INFORMATION RISK; RISK MANAGEMENT; INFORMATION FLOW; WATER MANAGEMENT COMPLEX OF A REGION; REGIONAL STRATEGY

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