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Posted: July 11th, 2022
Risk Management in Construction Case Study
Table of Content
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Information about the organization
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Relationship and perception of the stakeholders
Pestle analysis for Bouygues Construction Australia
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Swot analysis for Bouygues Construction Australia
Risk management plan for the employees
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Measurement of the risk management
Obvious risks that need to be handled
Figure 3: Formulate and select the treatment options
(Source: Fumasoli, Pinheiro & Stensaker, 2015, p.1038)
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Overall judgment regarding the identified risks
Illustration of their likelihood and the possible impacts
Evaluation for setting the organizational Priorities
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Figure 2: Evaluation for setting the organizational Priorities
(Source: Raghupathi & Raghupathi, 2014, p.3)
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Australian Capital Territory Education and training RM Framework
Risk Management Framework Massey University
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RMF on ISO31000 for Bouygues Construction
Figure 4: RMF on ISO31000 for Bouygues Construction
(Source: bouygues-construction, 2017)
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A GENERIC R M FRAMEWORK and PROCESS TEMPLATE
Table 1: A GENERIC R M FRAMEWORK and PROCESS TEMPLATE
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Risk in workplace for poor management system
Variety of risk that is required to emphasize
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New skill or knowledge that can develop to avoid these risks
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Introduction
Effective risk management strategies generally allow an organization to verify their strength, weakness, threat, and opportunities. Here in the current assignment, the organizational risk factor of Bouygues Construction Australia is described along with their economic background. Moreover, some basic requirements, as well as sufficient treatment options, are illustrated to overcome the challenges as much as possible. Nonetheless, the Risk Management and Decision Theory, Organization Behaviour Theory and captivating field of decision theory are discussed to review and monitoring the implemented treatment to control the arising risks within the construction company. Apart from that Australian Capital Territory Education and training RM Framework, J and J FRAMEWORK FOR ENT R M Risk Management Framework Massey University, W REGION RM F are also described to develop the poor management system in the Bouygues Construction organization.
Task 1
Background of Bouygues Construction
Bouygues Construction Australia is one of the most popular construction companies in Australia. As mentioned by Ghobadi (2015), from 2017 it is reported that the net debt of the organization was €2 billion at December 2016 and their net gearing was 20% and over the year their improvement point is 8 on 10. It is also evaluated that the sales of this construction company have increased up to 6 % in the year 2014. This reflects the organizational profitability and their sales outside economic condition rose sharply up to 13% on €5.77 million.
Bouygues Construction Australia recently is developing their operating strategies within their formulated framework. As commented by Beck (2014), their statement of purpose includes reducing the organizational risk by implementing promotional strategies by providing proper safety to their employees. Moreover, they also emphasize on their quality service by increase their market share in Australia (bouygues-construction, 2017).
Bouygues Construction has their official website where they declare their missions, services, executive team and their corporate ambition. They also announced that they provide service in design and construction, partnerships and alliances, property and asset management, PPP and concessions, and procurement in Australia. As opined by Jacquet (2014), they also allow the consumers to provide their review regarding their service and customer can contact with the organization whenever they needed.
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As per the report on 2015,Bouygues Construction Australia will build NorthConnex new motorway in Sydney. Nevertheless, it is also announced in this year that Bouygues Construction recently delivered the Melbourne Metro with the Cross Yarra Partnership. As commented by Pemsel & Wiewiora (2013), it is also reported that the company is facing issues in managing and monitoring their risks within their business unit. Henceforth the supervising team fails to control the security of the worker and fail to ensure their service to their consumers.
Mission and vision A mission Statement defines the company’s business, its objectives and its approach to reach those objectives. A vision Statement describes the desired future position of the company. Elements of mission and vision Statements are often combined to provide a statement of the company’s purposes, goals and values
Goals Goal setting is the process of deciding what you want to accomplish and devising a plan to achieve the result you desire. For entrepreneurs, goal setting is an important part of business planning. This goal setting definition emphasizes that goal setting is a three part process.
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PART A
Relationship and perception of the stakeholders
The organisation maintains health relationship with their internal and external stakeholders. As mentioned by Jacquet (2014), the internal stakeholders involve managers and the employees whereas the external stakeholders include creditors, consumers, suppliers and shareholders. The organisation shares the viewpoint of the stakeholders and prioritises their opinion in executing their performances. Nonetheless, they build the strong relationship with the supplier and consumers and meet them frequently to consult them regarding their demands and expectations. Nonetheless as per the perception of the stakeholder, the organization has recently implemented RMF on ISO31000 in order to minimise the possible risks as much as possible. They hire experiences staff and provide on the job training to make the labour more responsible towards their duties.
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Pestle analysis for Bouygues Construction Australia
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