Risk assessment is in essence a combination of risk identification, evaluation and control processes which ensure the fulfillment of the objectives of OPRD and efficient management. The Managing Authority takes into account the following during risk assessment:

• existing risks in its area of operation;
• the possible consequences and the general impact in the event risks occur;
• efficient methods of evaluation and identification of possible risks;
• internal control procedures for risk prevention and management;
• alternative measures n the event risks materialize.

Risk assessment at the project level aims at identifying and evaluating risks posing threat to the fulfillment of the goals of the projects co-financed by Operational Programme Regional Development and proposing corrective steps to reduce them.

Risk assessment is carried out in compliance with the Methodology for Risk Assessment and Management in relation to the internal control procedures of OPRD which has been approved by an order.

The Head of the Managing Authority issues an order and appoints a working group carrying out risk assessment of projects and grant contracts concluded under grant schemes in particular.

Based on certain criteria for risk assessment, the members of the working group carry out a complex assessment of each project proposal based on which high-risk projects are identified. After the working group completes its work, a list of high-risk projects is prepared and published on the website of OPRD http://www.bgregio.eu/.

Based on the risk assessment of projects, the Head of the Managing Authority issues an order and appoints a working group to prepare an Annual Plan for On-the-spot Checks of projects defined as entailing high risk. All public procurement contracts implemented under the Public Procurement Act are subject to ex-ante control by the Managing Authority of OPRD. Public procurement contracts which are below the set thresholds and are implemented in compliance with the provisions of the Ordinance on the award of small-scale Public Contracts are subject to ex-ante control only when the projects are evaluated as high-risk ones.