Explain the relevance of the facilities manager’s role in assisting an organization to manage and reduce its exposure to risk: Understanding Risk Management in Facilities Management Assignment, TCD, Ireland

Task 1

1. Explain the relevance of the facilities manager’s role in assisting an organization to manage and reduce its exposure to risk. Your answer must identify and differentiate between areas that are directly within the FM’s responsibility and areas of responsibility that are shared with other managers/departments.
2. Describe five different techniques that can be used to identify risks.
3. Describe how the importance (or severity) of different risks to the organization can be assessed.
4. Describe the principles of risk management. How do cost-benefit considerations influence the choice of different strategies for managing identified risks?

Task 2

• The following list shows typical areas of direct responsibility for facilities managers:

1. Premises and building services
2. Provision of facilities goods and services
3. Information Technology (IT) infrastructure
4. Health and Safety
5. Energy, waste, and environmental management

a) For each area of responsibility identify and describe an example of a risk to your present organization (or one you are familiar with).  Explain how you would differentiate between foreseen and unforeseen events for the purposes of risk management.

b) Describe how you could apply a different technique for identifying each risk in the examples you have selected.

• For each of the examples you have identified, use a quantitative method to assess the importance or severity of each risk represents to the organization.  Explain your reasoning for the quantitative values you assess for each example.
• Explain how the principles of risk management can be used to control the severity of the risk to the organization represented by the specific examples identified and assessed in Tasks 2a and 2b.
• Explain how you would evaluate the effectiveness of the risk management strategies adopted for the examples used in Tasks 2a and 2b.