General methods for managing risk


Question 1: Describe the benefits of using the three general methods for managing risk (loss control, loss financing, and internal risk reduction) and how they can minimize the liabilities of operating a facility.

Question 2: What are the differences between minimizing risk and the cost of risk? Which one of these concepts has a greater effect on minimizing liabilities? Should a facilities manager focus more on minimizing risk or the cost of risk?

Question 3: Quality Facility Management Chapter describes the process of TQM (Total Quality Management Principles) and Quality FM. In this chapter, there are 5 TQM experts listed with their focuses on quality management: W. Edwards Deming, Philip B. Crosby, J.M. Juran, Robert C. Camp, and Karl Albrecht. Please examine one of these five experts and describe how their subject matter can help facility management achieve the objective of guest satisfaction.

Question 4: In the operation of a hospitality facility, there is a contention the business must operate in a reasonably safe manner to avoid the possibility of liability. Briefly describe the concept of "reasonably safe manner". Describe some of the various agencies and how they can help keep your facility "reasonably safe".

Question 5: What are the benefits of including a long range focus on technology into facilities? Describe how a focus on Facility Management Information Systems can assist in creating accurate and responsive data that can improve facilities management. between 250 and 300 words

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Strategic Management: General methods for managing risk
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