How can you mitigate technical risks in FM?

1 Know your assets

The first step to mitigate technical risks in FM is to know your assets inside out. You need to have a comprehensive inventory of all the facilities and equipment that you are responsible for, including their location, condition, age, value, and maintenance history. You also need to understand their interdependencies, functions, and criticality for your operations. This will help you prioritize your risk assessment and mitigation actions based on the impact and likelihood of technical failures.

2 Implement preventive maintenance

The second step to mitigate technical risks in FM is to implement preventive maintenance programs for your assets. Preventive maintenance is the regular inspection, testing, cleaning, and servicing of your facilities and equipment to prevent breakdowns, malfunctions, and deterioration. It can help you extend the lifespan of your assets, reduce repair costs, improve efficiency, and ensure compliance with safety and quality standards. You should plan and schedule your preventive maintenance activities based on the asset condition, performance, and usage.

3 Use technology and data

The third step to mitigate technical risks in FM is to use technology and data to support your risk management decisions. You can leverage various tools and systems, such as sensors, IoT, CMMS, BIM, and AI, to monitor, analyze, and optimize your facility performance, condition, and energy consumption. You can also collect and store data from your assets, processes, and stakeholders to identify patterns, trends, and anomalies that can indicate potential or emerging technical risks. By using technology and data, you can enhance your visibility, accuracy, and responsiveness in managing technical risks in FM.

4 Train and empower your staff

The fourth step to mitigate technical risks in FM is to train and empower your staff to handle technical issues and emergencies. Your staff are your eyes and ears on the ground, and they need to have the skills, knowledge, and confidence to perform their tasks effectively and safely. You should provide them with regular training, feedback, and support on technical aspects of FM, such as troubleshooting, repairs, safety procedures, and risk reporting. You should also empower them to take action and escalate issues when necessary, and reward them for their contributions to risk mitigation.

5 Communicate and collaborate

The fifth step to mitigate technical risks in FM is to communicate and collaborate with your internal and external stakeholders. You need to establish clear and consistent communication channels and protocols with your clients, tenants, suppliers, contractors, regulators, and other parties involved in your FM operations. You need to inform them of your risk management policies, plans, and actions, and seek their feedback and input. You also need to collaborate with them to align your expectations, goals, and responsibilities, and to resolve any conflicts or disputes that may arise from technical issues.

6 Review and improve

The sixth step to mitigate technical risks in FM is to review and improve your risk management processes and practices regularly. You need to evaluate the effectiveness and efficiency of your risk assessment and mitigation actions, and measure their outcomes and impacts. You need to identify the strengths, weaknesses, opportunities, and threats of your risk management strategy, and make adjustments and improvements as needed. You also need to keep abreast of the latest trends, technologies, and best practices in FM, and incorporate them into your risk management approach.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?