Risk management: new initiatives

Explain clearly to a facilities manager the meaning of risk management and the response will be instantaneous — ‘I do that!’ The more cynical among them will say that they have done it for years, and there is no need to invent fancy jargon to describe what is to them a commonplace activity. But there is a need, because the rise of risk management is a further example of how management science is pervading everyday management practice, carrying with it quantification, analysis and modelling into the more subjective and intuitive world of commonsense management.