Risk and opportunity management systems for property development and facility management companies

Risk management is no longer the preserve of insurers and financiers but is increasingly being recognised as a core businesses objective of property development, construction and facilities management companies worldwide. This is also true in China following recent changes in environmental and safety laws. After a brief literature review, this article describes the process by which a Risk and Opportunity Management System (ROMS) was developed and implemented for a major international Facilities Management Organisation and how it added real value to it's Customers' business objectives. The article also describes the lessons learned during the ROMS development process. It is concluded that property development and facility management companies as well as construction companies should have a ROMS in place to more effectively seize businesses opportunities and manage the associated risks.