Proceedings of The 3rd International Conference on Management, Economics and Finance
Risk Management Maturity Assessment based on ISO 31000 – A pathway toward the Organization’s Resilience and Sustainability Post COVID-19: The Case Study of SOE Company in Indonesia
Dr. F. Antonius Alijoyo and Stefiany Norimarna
The study aims to understand how the ISO 31000 based risk management maturity assessment conducted in a large State-Owned Enterprise (SOE) could help the organization map out its journey in building its organization’s resilience and sustainability. Aside from the conducted observations, the study is mainly based on a qualitative approach through document reviews, questionnaires, focused group discussions, and interviews. The assessment produces a score of 1.62 (a scale of 0.00 – 5.00) or at the repeatable level of their risk management maturity. Such a level indicates a substantial lack of resiliency and sustainability attributes upon which a road map is defined and proposed to the board of directors (BOD) of the organization. The road map has been well accepted by the BOD and used as a reference and a pre-requisite to the success of their organization’s business transformation program (BTP). As a case study, however, we note some shortcomings of generality and comparability. Further similar research is recommended with more SOEs as the object of study.
Keywords: ISO 31000, Risk Management Maturity, Resilience, Sustainability.