One of the biggest risks businesses may experience in the next 12 months is the postponement of risk management and mitigation processes. As businesses reassess, reframe, adjust and adapt, our advice to all businesses is that these cutbacks must be short-lived, if they happen at all.
Risk can take many forms. As important as it is for company directors to monitor risks from the pandemic, a close eye must also be kept on more traditional property risks including fire or damage from natural disasters.
While it might be tempting to focus on the greatest risk at hand, it’s crucial to put holistic resilience building in the driver’s seat. From natural hazards to mechanical failure, cyber attacks or fire – each of these risks remain important to acknowledge to mitigate through strategic planning.
This year has highlighted the need to be prepared for the unexpected. While mining sites are in general very resilient operations, this goes for miners too. FM Global group manager, account engineering Michael Beaumont writes.
Attention FM Global clients: Whether or not your business has been affected by the coronavirus pandemic, you can be sure of one thing—now is the perfect time to learn all you can to make your business more resilient.