MANAGE RISK

Manage Risk



Manage Risk

Assessment Event

Question 1:

The study is related to risk management in facilities management which is a kind of management, that is used for controlling or minimizing the involvement of risk. Risk management is the process to identify, assess and prioritized the risks, that how uncertainty affects on your objectives and goals and how a firm can monitor, minimize and control these probabilities of events. There are a number of risks that involve in a business, and every market or business has risk in order to tackle with them an effective manager is required. In this paper, Risk Management Policy is developed for a Facilities Management, with responsibilities at different levels and communication for the risk awareness (Olson, 1997, 77).

A good risk management plan should be based on the most current and accurate information available to the organization; sometimes, this requires an organization to seek out the advice and expertise of a risk management professional. When constructing a good risk management plan, administrators must look at every segment of the organization and tailor the risk management plan to fit the needs of stakeholders. It must take into account humanistic factors, as well as transparency and inclusiveness. The most common process referred to in the field of sports is the DIM process. It is a simple process that follows three basic steps: (1) develop the risk management plan, (2) implement the risk management plan, and (3) manage the risk management plan. DIM's purpose is to be proactive rather than reactive. A good risk management plan should also be dynamic, iterative, and responsive to change. Finally, it must be capable of continual improvement and enhancement through the use of a formal evaluation process.

Corporate Governance

In context of corporate governance, the International Facility Management Association describes facility management as a profession that comprises various disciplines to ensure the functionality of the venue environment by integrating people, place, and process. Management in general has several functions, such as planning, organizing, leading, implementing, evaluating, and controlling, and management style has a significant effect on operational efficiency (International Facility Management Association, 2012). In relation to corporate governance, facility management in particular entails working with several stakeholders; internal and external constituents who come from different fields and have a variety of interests in the respective facility. A facility manager therefore must have many highly specific skills, and certain managerial functions need to be fulfilled.

Purpose of this policy

The purpose of risk management policy is to compose several primary functions, such as planning, organizing, implementing, and controlling. The management of a team sport facility depends on the type of the facility: whether it is for professional or nonprofessional sports; the investment volume and form of financing (public, private, public-private partnership [PPP]); the operating form (public or private); the usage (games or training); and the potential customers. For the management of a facility, it is vital to deal with the facility's mission, goals, and objectives since planning without knowing what the facility is aimed at is not ...