Risk transfer
Risk transfer is a risk management and control strategy that involves the contractual shifting of a pure risk from one party to another. One example is the purchase of an insurance policy, by which a specified risk of loss is passed from the policyholder to the insurer. Other examples include hold-harmless clauses, contractual requirements to provide insurance coverage for another party’s benefit and reinsurance.
Reduced whole life costs
This is the systematic consideration of all relevant costs and revenues associated with the acquisition and ownership of an asset.
Essentially whole life costing (WLC) is a means of comparing options and their associated cost and income streams over a period of time. Costs to be taken into account include both initial capital or procurement costs, opportunity costs and future costs. Only options which meet the performance requirements for the built asset should be considered – those with lower costs over the period will be preferred.
Speed of implementation
Speed of implementation focuses you on evolving your business ideas and self-faster than anyone else around you. The faster you execute projects the more quickly you learn, adapt, and evolve your ideas and yourself…and the faster you will reach your goals. This book provides a concise collection of ideas, tools, and processes to follow that provide a practical path to using speed of implementation to your benefit
Quality of service
Service quality (SQ) is a comparison of expectations (E) about a service with performance (P) SQ=P-E. [1] A business with high service quality will meet customer needs whilst remaining economically competitive. [2] Improved service quality may increase economic competitiveness. This aim may be achieved by understanding and improving operational processes; identifying problems quickly and systematically; establishing valid and reliable service performance measures and measuring customer satisfaction and other performance outcomes.
