Project Risk Management Manual
When new projects involving significant capital expenditure are undertaken a significant issue which should be included as part of the project approval process is an Asset and Income Protection Risk Management review based on objective principles.
For many projects this is not completed and often results in:
- Projects with levels of risk greater than desirable.
- Unnecessary problems and difficulties with Property Underwriters when obtaining insurance.
- Increased insurance costs.
- Increased cost of implementing Risk Management Controls after the project is committed/completed compared to including it as an integral component of the Project.
To assist an organisation avoid the potential pitfalls Rowland Bell has prepared a generic manual which contains a suggested general set of asset protection type risk management guidelines.
“GENERAL ASSET PROTECTION RISK MANAGEMENT GUIDEliNESFOR NEW PROJECTS”
Objectives of this document are to
- Provide a general set of Asset Protection type Risk Management guidelines for new projects.
- Assist with reducing the potential for Material Damage and loss of income (primarily from fire) in terms of frequency and severity to levels which will be generally acceptable to the Client and the Property Insurance market.
- Provide general guidance regarding assessing new project fire protection needs and also on equipment selection to meet those needs.
For further information on this manual contact Rowland Bell.
