Basic risk management skills

We've been doing a fair amount of work with a client interested in preventing "CNN moments" by understanding where they have operational risk in their portfolio.

In a recent workshop, we spent time with one team to help them understand how to:

1. Identify, analyze, and prioritize risk
2. Translate property risk/issues into business language
3. Communicate risks and action plans to reduce risk

In this particular case, we were focused on business risks emerging from mechanical, electrical, plumbing and other systems -- a pretty wide net.  We talked about everything from water intrusion and the risks associated with energized water pools, to air flow reduction due to engineers having build an elaborate ping pong arena in a lab.

I have to say, the team was pretty into it.  They saw this as a way to make a better case for action on their top priority investments.