Risk is a part of any business, whether it’s public or private. While it’s impossible to eliminate risk, healthy organizations will identify potential risks and make plans to reduce them.
A risk audit requires the identification of any element that can interfere with an organization’s production. Conducting a risk audit requires asking three key questions…
- How vital are the assets at risk?
- How serious are the threats?
- How susceptible is the organization or system to the threats?
Maintenance and Risk
The maintenance department plays a vital role in identifying risks because their job responsibilities intersect with so many parts of an organization.
Perhaps no other department is in a better position to understand what can go wrong, how likely it is to happen, and what the consequences could be.
The maintenance team can identify potential risks such as…
- Aging equipment
- Employee training requirements
- Changing regulations
- Reduced or no support from vendors
- Limited or unavailable parts
- Security protocol
- Equipment and facility safety
- Product or service quality
Risk and CMMS Software
- Maintenance costs
- Energy costs
- Life expectancy
- Warranty information
- Replacement costs
- Other custom data
Armed with that information, the maintenance team can offer suggestions on ways to reduce the risks that could lead to financial losses, such as…
- Making precautionary measures, where possible
- Developing response plans, should the risk become reality
- Revisiting and updating the audit at appropriate time intervals
The purpose of a risk audit is to find potential issues—and possible solutions. So, when the risk becomes a reality, your organization is ready.
Learn more about how CMMS software can help your organization mitigate risk. Leave a comment or contact us.