Mastering Risk Management With CMMS to Boost Resilience!

Published by    Dr Daniele Gambero | Propenomist on   February 02, 2024

Corporate Resilience and Risk Management

In the landscape of Commercial Real Estate (CRE), where commercial properties and equipment interact to form the backbone of corporate operations, the concept of risk management emerges as the guardian of stability. It is not merely a buzzword discussed about in boardrooms; it's the golden standard of corporate well-being, ensuring that the intricate world of business processes remains harmonious and uninterrupted, always!

At its core, risk management in the realm of CRE and equipment maintenance is the strategically calculated factor against the unforeseen—the invisible threads that, if neglected, could unravel the very fabric of a thriving enterprise. Imagine, for a moment, a sprawling corporate complex, or a successful shopping mall as a sophisticated Swiss watch, where each gear is interconnected and reliant on the flawless synchronization of all other parts. One fails, the watch stops working!

Defining Risk Management

Consider a modern office tower in the thriving CBD of Kuala Lumpur where multinational corporations have their headquarters. Within the tower’s walls lie not just office spaces but a myriad of critical components such as elevators and escalators ferrying employees and visitors to their workplaces, HVAC systems maintaining a climate conducive to productivity, data servers silently processing the lifeblood of nowadays digitally transformed business communications, transactions, and data analysis, and much more.

In this intricate maze of people, building and equipment, the potential for disruptions, if left unmanaged, is an ever-present huge threat.

This is where Risk Management steps onto the corporate stage, not as a passive observer, but as the provider of a preparedness lifelines. Risk Management, in CRE Management, is all about identifying, assessing, and mitigating potential risks that could jeopardize the smooth functioning of a property and all its essential equipment. From natural disasters to equipment failures, the spectrum of risks is vast, and the repercussions, if unaddressed, can echo through financial statements and operational efficiency.

Corporate Reputation at Stake

Let's envision a scenario where a high-rise office tower, a beacon of corporate prowess, is suddenly confronted with a malfunctioning of the registration-counter controlled lifts. The potential consequences ripple beyond the immediate safety concerns to the nightmare of a total businesses’ disruption! Meetings are disrupted, employees are reaching the wrong floor and stuck there without knowing how to get to their workplace, and the structural integrity of the corporate image is momentarily compromised.

In this pivotal moment, the efficacy of properly defined risk management and related “countermeasures” becomes starkly apparent.

This is the essence of corporate resilience—the ability to absorb shocks, anticipate disruptions, and respond with a strategic resilience that propels the organization forward, or, in other words, always working with the best in mind while being prepared for the worst! It's not merely about averting disasters; it's about fortifying the foundation on which corporate success is built and get everyone ready to act responsibly while the technical team restore the faulty equipment.

Navigating Corporate Uncertainties Wearing the CMMS Bullet-proof Jacket!

As risk management unfolds across the enterprise, a strategic ally comes into play. Using a digital arsenal transforms the notion of reactive firefighting into proactive resilience.

The often-overlooked hero of risk management, a Computerized Maintenance Management System (CMMS), is the tech-powerhouse that goes beyond the “old school” routine maintenance to become the strategic architect of business continuity, no matter what!

The Reactive vs. Proactive Paradigm Shift

Traditionally, risk management has often been viewed through the Reactive lens by responding to incidents and emergencies after they happen. A malfunctioning piece of machinery, an unexpected system outage, or a critical infrastructure failure, in a reactive based environment, generated often un-coordinated, emergency based, and impulsive activities aimed at damage control!

CMMS, on the other hand, disrupts this reactive paradigm by introducing a proactive action which helps re-defining risk management from emergency response to issues anticipation.

Referring to the example of chaotic outcome from computerised lifts disruption pictured above, CMMS serves as the vigilant guardian anticipating and avoiding potentially disruptive issues through meticulous maintenance schedules, real-time monitoring, and predictive analytics.

The result? Seamless building operations, un-disrupted corporate business flows, and averted disasters; all this orchestrated behind the scenes by the foresight of CMMS.

Resilience through Predictive Maintenance

The core of CMMS's strategic impact is the concept of predictive maintenance. Unlike traditional maintenance approaches that follow predetermined schedules often causing “reactive remedies”, predictive maintenance harnesses the power of data to foresee potential issues before their becoming disruptive events.

Consider a shopping-mall where escalators play a huge role in moving people around. The conventional approach might involve periodic maintenance, hoping to catch potential malfunctions during routine checks. This normally ends-up, most of the times during peak-hours or weekends, with several escalators closed to the mall goers as “under maintenance”.

CMMS, on the other hand, using sensors and data analytics, can easily predict when escalators are likely to experience issues, prompting the technical team for a round of pre-emptive maintenance. The result is an operational environment where disruptions become a rarity, and the shopping experience remains seamlessly and highly enjoyable.

CMMS as the Orchestrator of Data-Driven Decision Making

In the corporate landscape, when talking about building maintenance, data-based decisions clearly spell the difference between success and operational setbacks, and CMMS becomes the backbone of data-driven maintenance scheduling or the key element of risk management.

CMMS not only provides real-time status of the equipment but also analyses historical data to identify patterns and potential failure points. Provided with this intelligence, decision-makers can proactively allocate resources, plan for contingencies, and remain clear of potential risks, ensuring that “business as usual with efficiency” remains the keyword for all buildings under their purview!

The CMMS Advantage

When commercial building management companies adopt all-in-one and fully integrated digital solutions to manage every single layer of the intricated complex that an office tower or a shopping mall are, CMMS, as strategic player, allows a real-time and 360 degrees view of the equipment status, and with cloud-based solutions, the manager can be alerted of any anomaly at anytime and anywhere might be.

ServeDeck has developed its muti-module solutions with all the above in mind and has been validated by the biggest market players in Malaysia and beyond. ServeDeck’s mission, “To revolutionize the global facility management industry by providing a comprehensive,

user-centred, and reliable digital platform enhancing the facility’s efficiency and sustainability” stands as a strong commitment in contributing to the digital transformation of the built environment management.

ServeDeck’s CMMS module has and is helping managing risk in a proactive manner more than one thousand commercial buildings running their daily operations in a smooth and highly efficient manner allowing management companies, tenants, visitors, and asset owners to always enjoy a well organised and always top-notch environment.

Request a free demo here to experience and understand what the real digital transformation’s benefits will bring to your organisation!  

ServeDeck, The Way Towards Building Management Excellence!  

 

ABOUT THE AUTHOR

The opinions expressed in this article are solely of the author, Dr Daniele Gambero.

Dr Gambero has been an expatriate to Malaysia from Italy, since 1998 and has more than 35 years of real estate experience. He is the co-founder and group CEO of REI Group of Companies, the Co-founder of Propenomy.com and the president of the Malaysia Proptech Association.

In the past 10 years Daniele, as international and TEDX speaker, has engaged several hundreds thousand people talking about Property, Economy, Propenomy, Digital Marketing and Motivation. He is also a bestselling author and columnist on several magazines and main stream media. You can reach him directly through his LinkedIn page here.

 

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