Risk Management And Homeland Security Essay

1233 Words Oct 24th, 2016 5 Pages
Risk Management and Homeland Security Risk management is the systematic and analytical process of assessing the likelihood of a threat to compromise critical infrastructure (Decker, 2002) and other potential targets susceptible to any form of threats. In assessing risks, the formula R = f(C, V, T) is used, whereas the level of risk (R) is seen as a function of the consequences (C), vulnerability (V), and the likelihood of a threat (T). One may ask why a mathematical function that requires numerical, quantifiable values is used to measure a subjective national security concept. This is the question which this paper will attempt to answer—the use and importance of risk management in homeland security and its related activities and initiatives.
Risk Assessment versus Risk Management
Risk assessment and risk management are not entirely the same terms, at least as far as the Department of Homeland Security (DHS) is concerned. According to their lexicon as mentioned in Schanzer and Eyerman (2010), when values are assigned to determine risk levels for determining priorities and coming up with plans and decisions, it is called risk assessment. Once the risk level is identified, when it is moved to the process of further analysis, identification, control, and avoidance if not prevention to permissible risk levels, then it becomes risk management. While the two processes hold different definitions, they are not exclusive of each other. They are, instead, connected and related. Before…

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