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What is Risk Frameworks

Chapter 5
Innovative and Agile Contracting for Digital Transformation and Industry 4.0
A skeleton that gives the total enterprise risk management strategy a proper guideline with steps to follow.
Published in Chapter:
Risk Management for Traditional and Innovative Contracts
Omar A. Shalan (Jerusalem Insurance Company, Jordan)
Copyright: © 2021 |Pages: 23
DOI: 10.4018/978-1-7998-4501-0.ch005
Abstract
Risk management is a very crucial aspect in contracting; it has been an issue since the early days. This is becoming more and more challenging as new dimensions have entered the arena. With a lot of stakeholders working together to produce value, this includes contracts, providers, customers, and end users. The risk management paradigm has shifted and transformed multiple times in the recent years. This chapter is trying to touch on the risks associated with traditional contracts, then move ahead to suggest a design model for risks in innovative contracts. In between, the chapter is touching on points related to outsourcing and governance.
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