Organizational Risk Management Framework.

Running head: ESTABLISHMENT OF AN ORGANIZATIONAL RISK MANAGEMENT FRAMEWORK
Establishment of an organizational risk management framework
Name of the Student
Name of the University
Author note

ESTABLISHMENT OF AN ORGANIZATIONAL RISK MANAGEMENT FRAMEWORK1
Table of Contents
Section 1: Analysis of the 7 W’s for the construction project.........................................................2
Section 2: Analysis of the Maturity Level for the organization......................................................3
Section 3: Critique of the risk management framework..................................................................4
Section 4: Analysis of contractual instruments used in the project.................................................6
References........................................................................................................................................7

ESTABLISHMENT OF AN ORGANIZATIONAL RISK MANAGEMENT FRAMEWORK2
Section 1: Analysis of the 7 W’s for the construction project
Based on the analysis of the 7 W’s for the Toll Road Construction project, it can be
discussed as follows:
1. Where: what is the context? – In the present context of the construction project, the
focus has been put on the risks incurred within the construction of the toll road. There are some
identified risks within the projects, which would mostly vary in the perception of stakeholders
(Wibowo, Hatmoko & Nurdiana, 2018). The topic within the project involves the various risks
involved with the construction of toll roads.
2. Who: who are the parties ultimately involved? – During the project, the involved
parties within the project includes the people who are involved with construction projects in
Indonesia. Such stakeholders include owners, design consultant, contractors, supervisory
consultants and the surrounding community affected from the project. These stakeholders would
thus be responsible for managing the risks according to the project context and estimating the
future benefits.
3. Why: what do the parties want to achieve? – From the construction project, the
different risks would need to be eradicated from the project based on the application of a proper
risk management framework. They would need a clear perception of the risks that might
approach towards the project, which would help them to eradicate them accordingly.
4. What: what is it the parties are interested in? – The involved parties within the
project would ensure that proper data would be collected from the approached risks over the