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Risk Management in Facilities Management - Dissertation Example

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FACILITIES MANAGEMENT OF RISK MANAGEMENT CHAPTER 1: INTRODUCTION 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 which will help in identifying the problem statement…
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Risk Management in Facilities Management
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Download file to see previous pages In the end research ethics is given followed by the conclusion of the chapter. Background Facilities management is a field or profession that includes a number of disciplines in order 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, 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 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 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 amount up to 200,000 contributing to annual GDP turnover of more than AUD$20 billion making Australia as one of the largest business sectors (Booty, 2009). While the growth of facilities management industry is impressive, it is not without risk. This is where risk management comes in. Over the decade, a lot of emphasis has been given on risk management especially in the field of facilities management (Booty, 2009). It is based on two objectives: to identify risks associated with facilities management and to reduce or eliminate those risks (Booty, 2009). It is therefore important for any facility manager to implement a risk management program in the ‘built environment’ in order to save money on the costs, reduce obligations and insurance, operate a safe facility etc (David, 2006). This phenomenon has increased the importance of risk management in facilities management. Therefore, this research will explore this phenomenon in the topic of facilities risk management. Problem Statement Facilities management has become a vital factor for the effective operation of organizations in either public sector or private sector. This has put the role of facilities managers in high importance for the realization of organization objectives in terms of daily operating functions (Booty, 2009). Because facilities management involves the effective and efficient maintenance of operating facilities, it has given rise to many risks that are part of the daily work environment. To identify these risks and reducing them is a big challenge that facilities manage ...Download file to see next pagesRead More
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