Subject The article studies the risk management practices in the region, the formation of regional fiscal policy that meet the requirements of economic security in the framework of the national strategy for economic reform. Objectives The main objective of the article is to obtain information on the existing practices in the areas of risk management and assess the prospects for development of risk management of the State in the region. The paper studies risk management practices at the departmental level of the Kirov oblast. Methods For the study, I used principles of a systems approach, scientific methods and techniques, in particular, questionnaire of respondents, analysis and synthesis of results of the study, and processing techniques of socio-economic data. Results The article presents the main results of the survey of respondents related to the risk management system in departments in the region. This report is the first study in the form of an open questioning at the regional level, which was attended by the employees of the departments directly related to risk management. Conclusions and Relevance Reforming the budget process by refocusing on results management instead of cost management is possible if improving the planning by using the methods of economic-mathematical forecasting and risk assessment. The practical recommendations contained in the work can be useful when designing federal and regional socio-economic development programs, adjusting the mechanism of budget process, and building and developing an effective risk management system in the region.
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