Features of the risk management system during martial law

The article reveals the theoretical and practical aspects of risk management in Ukrainian enterprises under martial law. Statistical data on the losses of the Ukrainian economy caused by a full-scale invasion are analyzed; the features and size of direct and indirect losses are characterized. The number of losses from the threats of martial law by sectors of the Ukrainian economy is considered, and the need to introduce a risk management system into Ukrainian enterprises is substantiated to strengthen business resilience and increase its competitiveness during periods of military instability. The main types of risks enterprises face during martial law are revealed, and their impact on performance and business development opportunities is indicated. Tools for identifying and assessing such risks are considered. The main types of risk management strategies are shown, and the probability and degree of risk impact criteria propose a methodical approach to choosing the optimal type of strategy. It is determined that the higher the likelihood of threats and the level of damage caused by their effect, the more active and radical management decisions in the risk management system of enterprises should be. Risk management strategies that were used before martial law were determined. The features of choosing the ways of wartime risk optimization by the risk assessment indicators are indicated. Each strategy proposes measures to eliminate risks and/or reduce the negative impacts of existing threats. The possible results of implementing each risk group’s proposed risk management strategies are summarized. The study’s results can be used in the practical activities of Ukrainian enterprises, especially in frontline areas, when forming a risk management system to minimize existing martial law threats and ensure enterprises’ continuous operation. Keywords: risk management, martial law, management strategies, threats, risk minimization, losses, enterprises.