Facility management or FM industry is emerging as an important industry in the construction, building, business management, service delivery and the property service sector. Across industries, the facility management is supporting and providing a critical range of management, products and services to support the working environments of industry, government and community sectors. Facilities management can be defined as managing and operating facilities after their construction with the help of facility management professionals typically planning and managing the whole of facility’s life cycle by embracing all the aspects of facility creation, operation and disposal.
In facility management industry, there are inherent degree of risk associated because this industry delivers a wide range of services and products that carry varying degrees of risk. Identifying risks and being prepared to manage them will help in minimizing the negative impact these risks may have. Therefore, risk management is recognized as a good business sense that demonstrates good governance. An effective risk management planning and practice is an essential component of the practice of facility management.
The role of facility managers is in ensuring that the workplace supports the achievements of the objectives of the organization and in identifying and assessing the risk to facility management and in managing those risks. The risk management over the decades has evolved into a structured and well-defined management discipline. Earlier risk management is confined to high-risk industries such as petrochemicals, nuclear establishments, mining industry but it has broadened its base to be applied in every industry around the globe.
Facility managers are now required to have expertise in understanding and applying the current standards of practice in risk management to all their professional obligations to comply with the statutory regulations of the government thereby minimizing liability. Facility managers are required to demonstrate their strategic relevance by improving and streamlining the workflow processes, developing strong and trusting relationship with executives and facility occupiers and in establishing a sharp understanding of business strategic objectives and market position.
The emerging new technologies can also help facility managers in minimizing risks and maximizing rewards by capturing the real time data and robust analytics that helps in promoting the facility managers’ function value to executives. The data driven business environment requires entrepreneurs to seek better data to help them drive smarter decision making capabilities and facility managers can help them in maximizing their strategic value by meeting this need at the first instance. Organizations can also outsource their facility management functions that present an opportunity in elevating the strategic role of facility managers by taking advantage of their expertise through dedicated FM service providers.
Cogent Analytics as a Business Management Advisory firm believes in the power of facility management with facility managers playing an increasingly strategic role in organizations. Latest technological tools in facility management are helping in streaming and strategically managing the operations in the field of facility management. Cogent Analytics, the best Houston Business Management Advisors and Consultants, do believe that facility mangers should take advantage of emerging new technologies that would improve the executive perception of the potential value of the facility management function.
In facility management industry, there are inherent degree of risk associated because this industry delivers a wide range of services and products that carry varying degrees of risk. Identifying risks and being prepared to manage them will help in minimizing the negative impact these risks may have. Therefore, risk management is recognized as a good business sense that demonstrates good governance. An effective risk management planning and practice is an essential component of the practice of facility management.
The role of facility managers is in ensuring that the workplace supports the achievements of the objectives of the organization and in identifying and assessing the risk to facility management and in managing those risks. The risk management over the decades has evolved into a structured and well-defined management discipline. Earlier risk management is confined to high-risk industries such as petrochemicals, nuclear establishments, mining industry but it has broadened its base to be applied in every industry around the globe.
Facility managers are now required to have expertise in understanding and applying the current standards of practice in risk management to all their professional obligations to comply with the statutory regulations of the government thereby minimizing liability. Facility managers are required to demonstrate their strategic relevance by improving and streamlining the workflow processes, developing strong and trusting relationship with executives and facility occupiers and in establishing a sharp understanding of business strategic objectives and market position.
The emerging new technologies can also help facility managers in minimizing risks and maximizing rewards by capturing the real time data and robust analytics that helps in promoting the facility managers’ function value to executives. The data driven business environment requires entrepreneurs to seek better data to help them drive smarter decision making capabilities and facility managers can help them in maximizing their strategic value by meeting this need at the first instance. Organizations can also outsource their facility management functions that present an opportunity in elevating the strategic role of facility managers by taking advantage of their expertise through dedicated FM service providers.
Cogent Analytics as a Business Management Advisory firm believes in the power of facility management with facility managers playing an increasingly strategic role in organizations. Latest technological tools in facility management are helping in streaming and strategically managing the operations in the field of facility management. Cogent Analytics, the best Houston Business Management Advisors and Consultants, do believe that facility mangers should take advantage of emerging new technologies that would improve the executive perception of the potential value of the facility management function.