As we mention in our feature article and focus on technology for risk management (pages 24-28), performance management and risk management can be considered as two sides of the same coin. While performance management software enables housing providers to fine-tune and quantify their operations for greater productivity and efficiency, risk management software gives them the necessary tools to implement the correct checks and balances so that they don’t ‘overheat’ in the pursuit of performance gains.
Risk management is particularly applicable in two of the areas where housing providers can either save money or make money. First, more efficient procurement processes can reduce up-front capital costs and longer-term operational costs, but they need to be carried out with an awareness of the possible risks.
Secondly, with many housing providers considering how to extend their operations to create additional revenue streams, perhaps through shared services, new commercial ventures or selling spare capacity (such as repairs, maintenance or contact centres) to other housing providers, risk management technology can help to ensure that they are able to correctly measure and judge their own appetite for risk.
We hope you enjoy this issue’s focus on risk management and it gives you some food for thought.