What is the process for conducting a risk assessment in FM?

To identify the Hazards, you need to walk around the workplace and look at what could cause harm, you can ask the employees or their representatives what they think or noticed that are not immediately obvious to you but could cause harm. Check manufacturer's instructions or data sheets for chemicals and equipment as they can be very helpful in spelling out the hazards

As you conduct the risk assessment, look for vulnerabilities or weaknesses that could make your business more susceptible to damage from a hazard. Vulnerabilities include deficiencies in building construction, process systems, security, protection systems and loss prevention programs

Conducting a risk assessment in Facility Management (FM) is a systematic process that involves identifying potential risks, evaluating their likelihood and impact, and developing strategies to mitigate or manage these risks.

Some additional hazards to consider are: Assess potential hazards related to technology, including equipment failures, software glitches, cyber-attacks, and the integration of new technologies. Consider the influence of environmental factors such as weather events, natural disasters, and climate changes. Evaluate how these factors could affect the facility's infrastructure, safety, and overall operations. Supply Chain Risks: Examine vulnerabilities in the supply chain, including disruptions in the flow of materials, dependencies on specific suppliers, and geopolitical factors affecting the supply chain. Identify potential impacts on production, services, or product delivery.

Risk assessment the overall process of hazard identification, risk analysis, and risk evaluation. Hazard identification – the process of finding, listing, and characterizing hazards.Risk analysis – a process for comprehending the nature of hazards and determining the level of risk.(1) Risk analysis provides a basis for risk evaluation and decisions about risk control. (2) Information can include current and historical data, theoretical analysis, informed opinions, and the concerns of stakeholders.(3) Risk analysis includes risk estimation.Risk evaluation – the process of comparing an estimated risk against given risk criteria to determine the significance of the risk. ,Risk control actions implementing risk evaluation decisions.

1. Determine who might be harmed and how. As you look around your organization, think about how your employees could be harmed by business activities or external factors. 2. Evaluate the risks and take precautions. 3. Record your findings. 4. Review your assessment and update if necessary.

Five common strategies for managing risk are avoidance, retention, transferring, sharing, and loss reduction. Each technique aims to address and reduce risk while understanding that risk is impossible to eliminate completely.

Brainstorming: Conduct brainstorming sessions with key stakeholders to identify potential risks. Consider various aspects such as health and safety, maintenance, security, compliance, and environmental factors. Use Historical Data: Review historical data, incident reports, and records of past issues to identify recurring or previously encountered risks. Checklists and Standards: Utilize industry standards, regulations, and checklists relevant to facility management to identify common risks associated with your type of facility.

The main part of your presentation should focus on the key findings and recommendations of your risk assessment. You should summarize the main results of your risk analysis, such as the magnitude, probability, and severity of the risk, and compare them to the relevant standards or benchmarks.

Document the Process: Document the entire risk assessment process, including the identified risks, analysis, mitigation strategies, and monitoring plans. This documentation serves as a reference and supports transparency in decision-making. Report to Stakeholders: Communicate the results of the risk assessment to relevant stakeholders. This includes sharing insights into the identified risks, the rationale for mitigation strategies, and ongoing monitoring plans.

1. Identify Risks. The very first step is to recognize the threats to your projects and portfolios. 2. Prepare and Monitor Specific Risk Response Plans. 3. Track Identified Risks. 4. Identify New Risks Along the Road. 5. Evaluate the Effectiveness of Your Risk Management Process.

Regular Monitoring: Establish a system for regularly monitoring and reviewing the effectiveness of the implemented risk controls. This ensures that the risk management strategies remain current and relevant. Feedback Loop: Establish a feedback loop where ongoing feedback from facility users, staff, and other stakeholders is collected and analyzed to identify emerging risks and refine risk management strategies.

Risk Mitigation Develop Mitigation Strategies: Identify and develop specific strategies to mitigate or control each high-priority risk. This may involve implementing preventive measures, enhancing safety protocols, or investing in technology or training. Implement Controls: Put in place the identified controls and mitigation measures. This may involve changes to processes, policies, or physical modifications to the facility.