Risk Management in Facilities Management - Dissertation Example

Summary

This dissertation "Risk Management in Facilities Management" shows that it is firstly important to understand what facilities management is and then ascertain the management of risk within this field. In this chapter, a brief background on the research topic will be presented…

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Risk Management in Facilities Management

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Subject: Family & Consumer Science
Type: Dissertation
Level: Masters
Pages: 39 (9750 words)
Downloads: 2
Author: rbernhard

Extract of sample "Risk Management in Facilities Management"

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Background Facilities management is a field or profession that includes several disciplines to guarantee the proper functionality of the environment that is being built through incorporating a mix of people, process, place, and technology (David, 2006). Facilities as the name suggests can include properties, buildings, and other infrastructure. In the industry of facility management, a facility is defined as a ‘built environment’ (Booty, 2009). As mentioned in the beginning, facility management’s main objective is to manage the effective and efficient operation of the said ‘built environment’ (David, 2006).

In addition to this, facilities management also covers the areas of delivering services that add to the profitability and productivity of the personnel who are using any facility; reducing costs related to operational life cycle; and looking after the maintenance and security of facility for high efficiency in operation (David, 2006). Facility managers are the people responsible for the management of facilities. These managers can be working on business levels such as top management level where strategic planning and decision making takes place; or at the managerial or operational level where technical issues are being handled (Booty, 2009).

During the 1980s, the facilities management industry started to grow due to the expansion of business globally which during that era mainly included outsourcing of management and maintenance of the business facilities by enterprises (David, 2006). The effect of facilities management today not just on one country but on a global basis is large because of the rapid growth and diversification in different industries (David, 2006). For instance, in Australia, the number of full-time employees amounts up to 200,000 contributing to an annual GDP turnover of more than AUD 20 billion making Australia one of the largest business sectors (Booty, 2009).

While the growth of the facilities management industry is impressive, it is not without risk. This is where risk management comes in.

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