Risk Evaluation in the Strategic Planning of Industrial Regions’ Development Within Industry 5.0

Progressive socio-economic development of regions is an urgent task for governments around the globe. This is particularly significant for a federally organized state, whose industrial development is directly linked to the headway of its territories. There is a relationship between digital instrumental and analytical trends, regional development strategies, and associated risks, as evidenced by the literature review in the paper. The study sheds light on how to track the impact of risk events on the development scenario and what methodology should be used to measure the degree of this impact on the region and the country’s industrial policy. The paper presents a mechanism developed by the author for assessing risk elements. They are the most likely manifestations of a threat to regional strategizing. The methodology of using the GRETL software product to identify the causal relationship between risks and indicators of strategizing is also shown. The author has formulated recommendations to support the regional strategy in the implementation of the country’s course towards the transition to Industry 5.0.