Why Risk Management Needs to be at the Top of your To-Do List
There is an unavoidable situation for commercial real estate owners and property management firms. The simple world of ensuring day to day operation in properties is gone forever. Companies need to look long and hard at the emerging arena of risk management. Otherwise, their ass(et) can be in serious jeopardy.
We recently interviewed commercial real estate risk management experts Joe Donovan, SVP of Beacon Capital Partners, and Kathleen M. Nickerson, SVP of Robert M. Curry and Associates for best practices in emergency preparedness and reducing your building or portfolio’s exposure to risk and loss. The conclusion: property owners and managers must move beyond daily operations to proactive, long-term risk management.
This article looks into the current state of risk management and the key questions associated with it:
Why risk management?
How do we get started in risk management?
How has the role of the property manager changed?
What are best practices in risk management?
How can technology assist in risk management?
How can we know it’s working?