Our topic this week is a short one, but it’s an important factor to consider when carrying out a Stakeholder Analysis.

It’s also the last of this current series, so we’ll be on to a fresh new topic next week! Remember if you’d like to catch up on any previous issues, you can find them all on our website in the Vault, which you can access here.

Before we get into it, a quick reminder that we’ve confirmed the dates for our next Qual-in-a-Week intensive course and enrolments are open.
If you’d like to achieve an IWFM Qualification, but don’t feel like you can commit the time to distance learning, then this is the course for you.
The Qual-in-a-Week course does just what it says on the tin – it allows you to complete all of the learning and assessment for an IWFM Level 4 Qualification in just one week. If this sounds of interest, you can find out more here.

Anyway, enough of that – on to this week’s topic!

Risk Management and Business Continuity

A key stakeholder for the FM department is the business as a whole (yes – your parent organisation is essentially a stakeholder in itself!) and a key function of the FM department is to consider risk management and implement procedures to reduce any risks and to ensure business continuity.

To that end it is vital that the FM department is involved in risk assessment and the planning of business continuity procedures.

To ensure that this happens, senior FMs within an organisation should ideally have easy access to the senior management team so that the requirements of the business can be easily assessed. The continuity of the business can be affected by many factors.

When talking about risk, it is common amongst FM circles to automatically think of health and safety, but in the context of business continuity risk can cover anything which could have a negative impact on the business. Risks to business continuity can include:

  • Organisational risk
  • Financial risk
  • Environmental risk
  • Security risk

That’s all, folks
That’s all for now – we said it would be a short one! Risk management and business continuity is a whole subject area in itself and will no doubt be the topic for a future series of this e-mail.

For now, just know that it is important to account for risk management when undertaking a stakeholder analysis.
Don’t forget to check out the Qual-in-a-Week intensive course if it sounds of interest. You can find out more here.
Have a great week!
Chris and the Xenon Team
P.S. If you haven’t already studied or started studying for an IWFM qualification, which will cover topics like this in depth and fully assess your understanding, you may want to have a look at our guide to the IWFM Qualifications which will give you a full breakdown of how they work and what’s involved in the different levels. You can download it here.

P.P.S. If you’re already considering taking a qualification but don’t know which level to go for, a good starting point is our One-Minute-Leveller tool, which will ask you a few questions and give you a recommendation based on the result. You can access it here.