How to assess risks at Field level of Master data tables
- 05 Oct 2022,
In one of the earlier blogs, the purpose and process of developing master data tables were shared.
This blog
summarises key aspects to carry out risk assessment at the field level of
master data tables as relevant for Design functions ie. (Design of Architect, Design
of Interior, and Design of MEP)
Risk Assessment at
- Field level of Master data tables
Activities to assess risks at field level of Master data table
level
1. Identify parameters
that can influence “Field level” risks- w.r.t each Master data table
Once Master data tables have been
identified, HOD/functional team, in consultation with risk management or the
Internal audit team, identifies a list of essential aspects that can facilitate
the classification of “Field risks” as High or medium, or low.
Some of the aspects are as below:
·
Purpose or ingredients of the field in business activity in which the
intended “Field “is used.
· Consequences of
populating field inaccurately vis-à-vis project design or project Quality or
project costs or statutory conformance
This activity also necessitates the identification
of Ingredients of Field that can influence the classification of risks in
“Field” as High or Medium or low are as below in case of
i)
Field populated inaccurately
ii)
Fields accessed or amended unauthorizedly
2. Design a risk assessment template at the Field
level vis-à-vis each Master Data Table
3. Software programming of risk template
for Field level
4. Populate
“Field” level risks vis-à-vis each Master data table
5. Affect Changes in above
Few illustrations of risk classification at the
field level of master data table levels:
|
Field |
Consequences if
Ingredients of Field are inaccurate or unauthorizedly accessed &
amended |
Risk classification proposed
at the Field level |
|
Function:
Design of Architect, Mater data table:
Drawings/specification master-Packages in Civil works |
||
|
Drawings & technical specifications for
the scope of work, including for BOQ - Structure work’s packages |
Not meeting customer requirements and thus
leading to adverse impact on sales volume due to non-robust design vis
a vis below aspects. i)Not meeting national building code
standards or statutory specifications or ii) Compromise of
safety or & iii)Compromise on Quality or & iv) Statutory/sanctioned or approved design
or & drawing |
High |
|
Drawings & technical specifications - Civil
Building work’s package |
As above |
High |
|
Drawings & technical specifications - Facade
work’s package. |
As
above |
High |
|
Drawings & technical specifications - External
development areas / Landscape /hardscape work package. |
As above |
High |
|
Drawings & technical specifications - Softscape
work’s package |
As above |
High |
|
And so on |
|
|
|
Function: Interior of buildings, Mater data table: Drawings/specification -master-Packages in Interior Design works |
||
|
Drawings & technical specifications for
the scope of work, including for BOQ -Finishing work’s/packages |
Not meeting customer requirements and thus
leading to adverse impact on sales volume due to non-robust design vis
a vis below aspects. i)Not meeting national building code
standards or statutory specifications or ii) Compromise of
safety or & iii)Compromise on Quality or & iv) Statutory/sanctioned or approved design
or & drawing |
High |
|
Drawings & technical specifications -Furnishing
& Fixtures related packages |
As above |
High |
|
Drawings & technical specifications -Equipment
packages, e.g. Gym, Bathroom, etc.
|
As above |
High |
|
Drawings & technical specifications
-Artworks, Props, and other packages |
As above |
High |
|
And so on |
|
|
|
Function: Design of MEP,
Mater data table: Drawings/specification master-MEP Package |
||
|
Drawings & technical specifications for
the scope of work, including for BOQ -External Electrical work |
Not meeting customer requirements and thus
leading to adverse impact on sales volume due to non-robust design vis
a vis below aspects. i)Not meeting national building code
standards or statutory specifications or ii) Compromise of
safety or & iii)Compromise on Quality or & iv) Statutory/sanctioned or approved design
or & drawing |
High |
|
Drawings & technical specifications -Internal
Electrical work |
As above |
High |
|
Drawings & technical specifications -Airconditioning
or &VRV or & Heating work |
As above |
High |
|
And so on |
|
|
Activities that can adversely impact business
· Inappropriate
levels/positions of team members of “3 Design functions” with consequent
inadequate skills for comprehending field-level risks of Master Data Tables
· Inappropriate software development and
workflow of risk templates making risk capturing of field level risks at master
data table cumbersome and inefficient
· Inadequate
understanding and hence inappropriate capturing of the consequence of
Incorrect accessing and use of Master data tables in
“3 Design functions” *
· Inaccurate
classification of Risk level High,
Medium, or Low by team members of “3 Design
functions” *
·
Non-periodic/non-timely review of previously populated risk
template to incorporate changes in Master data tables level risks and so on *
Handbook of the
author
A template
illustrating risk classification, as High, Medium, or Low
at the field level of Master data table level is included in chapter 10 (annex
16D) in the handbook of the author and titled” ETHICS in the real estate and
hospitality industry, Volume 1- Architectural, Interior design, and MEP
services “