Establish the context
Establishing the context defines the parameters within which risks will be managed and sets the scope for the balance of the ERM process. By establishing these parameters, the context regarding the nature of the risk management effort, the timing frequency for updates and formal reviews of risks, the parties engaged in the process (KBR-only, partners, clients, etc.), and the requirement for deliverables to be issued is defined.
For projects and programs, the parameters are to be documented in the Project Commercial Management Plan / Business Strategy. Business organizations should define the parameters as part of the strategy and ERM process.
Click the questions below to acknowledge them 
The following questions are provided to guide the responsibile party or ERM focal point in defining the internal/KBR context for implementation of the ERM framework. If other unique requirements are influencing the context they should also be defined.
Internal Context
What's the overall reason for implementing risk management (on the project, business, etc.)?
What are the risk management deliverables? Reports? Tables?
What is the governance, organisational structure, roles and accountabilities
What are the capabilities in terms of available or required resources, e.g. people, systems, processes
Who are the deliverables for?
What is the timeline for the issuance of the deliverables?
How often should risks and action plans be reviewed and actioned by the project/business team?
Are there any other relevant initiatives, plans, goals, and objectives?
Will non-KBR personnel require access to WDesk?
External Context
The environment in which KBR operates
What are the fundamental assumptions, baseline conditions, existing parameters that external to the project/business context which influence the controls for the risk assessment?