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Fire risk assessment process:
This is the main part of the FRA process. Here we consider the risk, measure it against what we consider acceptable and, if we consider that the risk is too great, we make our recommendations for remedial actions that will reduce or eliminate the risk.
Our recommendations may be for preventative measures or may be for fire precautions
- i.e. those measures that will make the building safe even if there is a fire within it.
This element is about recording the findings and recording the remedial actions that are required to make the risk acceptable. It also mentions co-operating with others and training staff.
Finally, the process is not meant to be done once and then forgotten about. It should be carried out regularly and reviewed every time that there are any changes to the building, the people in it, the contents in it or the processes that take place within it. The period between regular reviews varies according to the type of premises involved. In a low risk office the review might only be required every two or three years but in a high life risk shopping mall the review should be at least once per year.
Capital budgeting process: When investing in a long term assets, the project has been evaluated in term of its profitability and expected cash flow in the future. The capital budge
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