Maximize Performance Guarantees, a Financial and Operational Risk Management Tool

The objective of this textbook is to assist fleet-shop-parts-fuel managers apply performance guarantees to minimize costs, risks and liabilities. Performance guarantees, warranties, funding options and physical damage and liability insurances can be applied as effective financial and operational cost, risk and liability management tools. Warranties cover financial and operational risks caused by defects in fleet assets' and suppliers' materials and workmanship. Performance guarantees cover financial and operational risks caused by defects in fleet assets' and suppliers' materials and workmanship merchantability and fitness for use. Funding options which allow return without penalties can be applied to eliminate most financial and operational risk exposures caused by a given fleet asset, for example, a "lemon". Insurance covers accident, physical damage, theft and liability exposures caused by owning, operating and disposing of fleet assets, and performing shop services. The "Performance Guarantee and Warranty" textbooks were written to be read together. Compare the fleet-shop-parts-fuel department's current risk management practices to the worldclass practices discussed in this textbook. Implement required changes and earn $100,000 annually with 90% decisionmaking control and achieve Vice President and Director status.