Identify, Assess, and Prioritize Risks
Identifying, assessing, and prioritizing potential risks enables rational planning for achieving an optimal outcome when risks are realized.
- What are the natural disaster hazards of your location? (e.g., floods; severe storms; tornados; etc.)
- What are your building's hazards? (e.g., water leaks; fire; blackout; etc.)
- What are the hazards within the collection space? (e.g., water pipes; sprinklers; fire; ingress routes for pests; mold; etc.)
- How vulnerable is the collection to each of the above identified hazards? Would the potential damage be catastrophic or manageable?
- What risks have been realized in the past? How frequently? Was the damage minor, moderate, or severe? What has been done since to manage those risks?
- Which risks are most likely to be realized and, when realized, will have the most significant impact?
Reduce, Spread, and Transfer Risks
Minimize the realization of risks:
- Keep the building in good repair
- Invest in good building or space design (e.g., compartmentalize storage areas; avoid storage directly under water pipes; etc.)
- Invest in sound building systems (e.g., HVAC; fire detection and suppression; etc.)
- Maintain building systems and test regularly
- Practice good housekeeping
- Take extra precautions in advance of foul weather and be extra vigilant during foul weather
Spread risks:
- Avoid keeping all of the highest value/most important collection items together in one place
- Make copies of important documents (e.g., birth certificates; insurance policies; passports; property titles; etc.) and store copies in a separate location
Transfer some of the costs of realized risks:
- Have insurance and understand terms of coverage (e.g., types of materials insurance will replace, salvage expenses insurance will reimburse, necessary documentation for submitting claims)
- Form mutual assistance networks
More about Insurance Valuation
More about Insurance Companies
The information compiled here cover general key concepts and represent the minimum considered good practice in libraries, archives, museums, and other collection-holding institutions. These recommendations may be superseded by specific institutional requirements.
