Adding Value Through Risk Management:
Every day life is full of risk and at work; progress can often become starved by concerns around risk taking and risk management. This is especially so when dealing with a field that may be unfamiliar to the organisation. Risk analysis and management has emerged as an effective process that complements many aspects of today’s, in particular in the work environment.
There is a Chinese proverb that reads……
“One cannot refuse to eat just because there’s a chance of being choked”.
In the latter part of the 20th century there has been an unprecedented development of risk methodology and theory by organisations and government bodies, yet it remains a challenge to get this information shared, in use, and adding value to organisations.
The approach to property risk management at Frankham RMS is a pragmatic and practical one. Frankham RMS recognises that organisations it works with are diverse in terms of their knowledge of the risks relevant to them, or their appetite for risk, or their financial constraints. Often, there is a finite budget that has to stretch further, particularly in the current climate and this is where we believe Frankham RMS can add value.
There are two principal doctrine of risk management, firstly; do not risk more than you can afford to lose and secondly; do not risk a lot to save a little. In managing risk for property owners, the latter is most relevant and Frankham RMS have a proven track record for delivering cost effective risk management solutions that add value to an organisation.
For example, when the Control of Asbestos Regulations enforced a duty to manage, many property owners saw this as a duty to survey and embarked on conducting expensive, property-wide inspections. Surveys were often conducted where none were necessary and organisations were often unprepared for tackling the outcomes of the surveys.
If a risk-based approach is taken, it is possible to evaluate those properties that may need to be inspected more urgently and manage by exception those that potentially pose a lower risk. This helps to spread the budget further and be more prepared for the resulting abatement works.
We recognise the importance of protecting people, property and reputation. Where we add value is by helping organisations to remain proactive in defining risks, assisting in making plans to mitigate them and developing recovery plans for dealing with outcomes.
Frankham RMS have a proven track record for delivering cost effective risk management solutions that add value to an organisation.
…reducing exposure by managing risk