Developing and Managing an Effective Property Risk Management Program

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Learning Objectives

Most property losses are preventable, and prevention should start early in the planning and design stage. This CIRMA training and education program takes participants through the three areas of facilities management where an understanding of the principles of risk management can prevent property losses, save taxpayers’ money, and ensure public services continue uninterrupted. The training and education program is led by a team of professionals in construction law, municipal finance, and facilities management.

Topics covered include:

I. Contracts
Before ground is broken, the project architect and the building committee members should address property risk management concerns, including:

• The role of the architect.
• Agreement forms (AIA, Consensus DOCS, and others).
• Completion of the project (use of late penalties).
• How to outline the “scope of work” so that projects are completed on time and construction errors and mishaps are minimized.

II. Budgeting & Finance
What is the cost of doing nothing? Plenty. This portion of the workshop discusses development of an operating budget that properly balances short-term versus long-term risk control considerations. It delves into budgetary management of the “useful life of equipment” against repair, replacement, and risk.

III. Maintenance
A good maintenance program institutionalizes risk management practices. This portion covers:

• Effective maintenance intervals.
• Sharing resources.
• Staff training and written procedures.

Audience

This training and education program is designed for:

• Risk managers
• School business managers
• Facilities managers
• Building committee members
• Fire marshals