FACILITIES MANAGEMENT GOVERNANCE AND RISK

Facilities Management Governance and Risk

Name of the Writer

Name of the Institution

UNIT ASSESSMENT FRONT SHEET AND PLAGIARISM STATEMENT

Unit Reference

Unit FM6.02

Unit Title

Facilities management governance and risk

BIFM Membership Number

Centre Name

BIFM Training

Cohort Reference (e.g. 54321/4/01/06/2010)

10592/4/xx/xx/xxxx

Date assessment received from Centre

Deadline for completion of assessment

Date assessment submitted to Centre

PLAGIARISM STATEMENT

I, (print name) confirm that the attached assessment is entirely my own work and, if I have incorporated any copied text, I have accurately referenced the work to the original source. I confirm I have read the BIFM malpractice policy.

Table of Contents

Unit Assessment Front Sheet and Plagiarism Statementii

Plagiarism Statementiii

TASK 11

1.1Corporate Governance1

1.1.1Risk Management and Assessment2

1.1.2Dealings in Securities3

1.1.3Whistle-Blowing3

1.1.4Dealings with Conflict of Interest3

1.1.5Manager's Responsibility4

1.1.6The Conduct of Affairs of the Board4

1.1.7CEO and Chairman4

1.1.8Internal and Audit Control5

1.2Organisation's Ethical, Financial and Social Responsibilities5

1.3Implications of Non-Compliance with Legal and Regulatory Requirements7

2.1Concepts and Criteria of Corporate Governance8

2.2Ascott's Corporate Governance Addresses The Principles Of Responsibility, Accountability, Transparency And Fairness10

2.3Information Providing System and Risks And Costs Of Mismanaged Relations10

2.4Monitor and Review Relationships12

3.1Relationship between Risk within the Facilities Management Function and Its Potential Impact13

3.2Extent of Risk Management15

3.3Process of Risk Management16

4.1Risk Reduction Strategies17

4.2Strategies and Plan to Remain Compliant17

5.1Risk Transfer and Recommendation19

5.2Extent of Risk Transfer in Relation to Facilities Management20

TASK 221

6.1Scope and Extent of Business Continuity Planning (BCP) Requirements in Ascott Limited21

6.2Develop a Business Continuity Plan25

6.2.1Strategies26

6.2.2Recovery33

6.2.3Restoration34

References36

Facilities Management Governance and Risk

TASK 1

Nowadays, corporate governance is considered to be a vital component of investor relations. The significance of good governance has been underlined by the wave of corruption scandals in the corporate sector. For stakeholders, such as customers, shareholders, managers and others, good governance is the basis of shared trust.

For this assignment, Ascott Limited Company is selected to analyse the corporate governance policy and practices followed by the company. Ascott Limited is a Singaporean corporation that has progressed to be the largest worldwide serviced residence owner-operator. The company operates in key cities of the Gulf region, Europe and Asia Pacific and serviced over 22,000 operating serviced residence units.

1.1Corporate Governance

Corporate governance refers to a system through which companies are controlled and directed. Similarly, corporate governance refers to the plan that take into consideration current issues and problems faced by a company, provides dispute resolution between the board of directors, shareholders, managers and others by strict legal regulations (Daniel, Edwin, Nicole & Man-Wai, 2000, pp.545-555).

Ascott Limited operates in accordance with the spirit of the Code of Corporate Governance and is entrusted to the uppermost standard of transparency and corporate governance. The management of Ascott Limited work and discharge their responsibilities in compliance with Code of Corporate Governance or corporate governance. The company believes that effective and strong corporate governance is vital for business sustainability and success, as well as to protect the Unitholders' best interest. Moreover, Ascott Limited has a clear and well-communicated system of internal control, lines of responsibility and reporting, as well as procedures aligned with the Code.

The scope of the Corporate Governance Policy at Ascott is quite broad as it incorporates all work processes, along with systems of risk management, ...