A Note from the ENTOUCH CEO: Knowing your How, What, and Why

What Is a Facilities Risk Management Assessment?

Oct 30, 2023

As the world of facilities management becomes more computerized and uses digital-driven processes, Facilities Managers around the globe will begin to look seriously at how a state-of-the-art energy management system (EMS) can improve profit margins. However, and effective plan for reducing energy consumption and improving efficiency in your facility must begin with a comprehensive facilities risk management assessment.

Facilities Managers Are Likely Using Outdated Risk Management Tools

A facilities risk management assessment, reports the Environmental Protection Agency, is used to identify the needs and risks that affect productivity any business, charity, public service organization, or other entity. Unfortunately, businesses that have already implemented risk management assessment may be using outdated checklist and not fully realizing their benefits and opportunities.

For example, Facilities Managers using a risk management tool that does not consider geographic factors uses lackluster analytics, including outdated analytics, are losing money and increasing risk their organizations unnecessarily.

A Thorough Facilities Risk Management Assessment Is Critical to Effectively Managing Costs

Thorough facilities risk management assessment in Facilities Managers to understand the whole picture that affects energy costs and overall productivity. As explained by Greg Zimmerman of FacilitiesNet, healthcare facilities maintaining infection control are particularly susceptible to issues involving risk management assessment. Of course, the argument can be made for susceptibility with and outdated risk management assessments for virtually any industry. Furthermore, a facilities risk management assessment must consider all possibilities, even those that seem impractical, that may result from any facilities management activity.

For instance, filling a hole in an old wall may seem like a simple task, but it could result in an unforeseen injury or accident to someone else, not to mention the damage of potential contaminants released into the indoor atmosphere from older building materials. This exemplifies why a comprehensive facilities risk management assessment is essential to managing costs.

How to Conduct a Proper Facilities Risk Management Assessment

Before creating a facilities risk management assessment or conducting one, Facilities Managers should thoroughly review all potential factors affecting risk and activities in their facilities. Use the following checklist to conduct a thorough facilities risk management assessment on each aspect of your building.

  • Type of system involved, such as electrical, lighting, guest services, or water.
  • Disruption risk from damage to a specific part of the system.
  • Average disruption time resulting from damage to the issue.
  • Ease of access to the affected item.
  • Environmental factors that may affect performance or longevity of the affected asset or unit.
  • Estimated costs associated with repairing an issue, if it arises.
  • Best course of action for addressing an item in question.
  • Potential fines or penalties associated with damage to the item in question.
  • Ways to prevent the problem from recurring.
  • Steps taken to rectify problems, when identify.

In addition, a facilities risk management assessment should use data-based systems to explain potential impacts from issues, as well as cost savings, when conducting an energy management audit or any type of facility risk management assessment.

Find the Low-Hanging Fruit in Your Facilities Management Program by Scheduling Your Assessment Today

Facilities Managers cannot improve what they do not understand or know. Conducting a facilities risk management assessment acts as a benchmark to understanding the risks in facilities management, including possible asset failures and disruptions. Repetitive and internet-connected risk assessment further reduces risk and improves profitability tool. Learn more about how much your company could be saving by scheduling your facilities management risk assessment by visiting ENTOUCH online or calling 1-800-820-3511 now.

Follow us.

Contact us, join our community and start your own journey driving profitability and saving the planet.