Risk Assessment and Mitigation Strategies for Construction Companies

Running head: SENIOR SEMINAR IN MANAGEMENT
Senior Seminar in Management
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1SENIOR SEMINAR IN MANAGEMENT
Table of Contents
Introduction:...............................................................................................................................2
Risk Assessment:.......................................................................................................................2
Important Stakeholders:.............................................................................................................2
Stakeholder’s perspective toward the problem:.........................................................................3
Analysis of the Construction Company:....................................................................................3
Identification of the Solutions:...................................................................................................4
Risk Assessment Strategies:.......................................................................................................5
Identification of Impacts:...........................................................................................................5
Reassessment and Adjustment:..................................................................................................6
Conclusion:................................................................................................................................7
References:.................................................................................................................................8

2SENIOR SEMINAR IN MANAGEMENT
Introduction:
Analysis and management of the construction is very much important for successful
completion of a project. This document will address various aspects of a successful
construction project. In the aspects of a construction project problems related with the
project, solution regarding the problems and the opportunities of the construction project will
evaluated in this paper. Analysis of the construction company will be done in this paper.
From the analysis the solutions which are required for mitigating the assessed risk will be
evaluated and the assessment of the strategies for the proposed risks will be done. Further this
document will be discussing the constructing company in a broader way.
Risk Assessment:
In the initial stages the problems related with the construction organization is
evaluated. At this stage the main problem with the construction company is meeting the
projected deadline for the assigned project. It analysed that the most common issue which the
construction organization face is the time management issue (Padalkar & Gopinath, 2016).
The time management issue occurs in the construction companies because naturally they
handles multiple projects at the same time and it becomes very much difficult to handle all
the projects at same time. As the main problem is related with the time management the
construction company must solve the issues with the time management.
Important Stakeholders:
For a construction organization and for a construction project there are total five
major stakeholders (Hande & Phillippi, 2018). These stakeholders are the resource manager,
senior manager, project manager, raw materials suppliers and the customers.