Risk Management Benefits

Superior Essays
Benefits of Risk Management
Risk management is a vital part of homeland security. It is used to determine the true credibility of a threat against the United States. It helps assist administration in determining what damage could be done to people or assets and also help create a plan which would be used to mitigate damage should a threat be carried out (Raymond, 2002). Risk management is all about prioritizing threats according to how credible they are also what kind of damage they may do. Risk management is a complicated process requiring a vast amount of understanding before being able to critique threats successfully.
This formula is used to calculate the overall risk of any given threat. This formula is R = f(C, V, T). The R represents
…show more content…
Strategic planning is the process which creates the risk management system. They go hand in hand. This planning must be accomplished in order to create the plans in place to protect the nation. Sound analysis must occur in order for a strategic plan to come together correctly and accurately. Strategic planning articulates missions and goals, what they will do to achieve that goal and also puts steps in place to evaluate progress and performance (Strategic planning, 2015). Overall, the goals of strategic planning include preventing terrorism and enhancing security, securing and managing our borders, enforcing immigration laws, securing and watching over cyberspace and also making our nation prepared for any attacks along with putting plans into place to recover from an attack should it …show more content…
People are willing to give up freedom for supposed “peace” so governmental agencies have to make sure not to take advantage of this fact and overdo it. One issue which has to be balanced is making sure people feel safe yet not overspending the budget to assure that safe feeling. This is a double edged sword though because the media and politicians play on these fears of terrorist attacks, which in turn makes the people demand more to ensure safety. The way to counteract this problem is for current programs and plans to show strength and confidence, not the vulnerabilities (Friedman, 2011). After all, people seem to be the most concerned with the appearance of freedom vs. actually being free and would trade freedom for

Related Documents

  • Improved Essays

    Risk assessment refers to determining the potential threat that an individual as upon their release from custody because of mental illness and/or criminal activity. There are two methods of risk assessments they are actuarial and clinical judgment (Brown & Singh, 2014). Actuarial risk assessment refers to a method of assessment that is based on statistics that estimates the risk level of a particular event to occur for example, how likely is this offender to commit a violent crime. There are requirements of actuarial instruments they include there being scientific integrity and practical utility (Baumann, Law, Sheets, Reid, & Graham, 2005). Practical utility involves being efficient, being accessible, and producing actual results that are desired…

    • 897 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    Whether it is internal or external influences, strategic planning is forward looking and a long-term commitment. Strategic planning creates direction for the agency, its employees, and volunteers (Patti, 2008).…

    • 1176 Words
    • 5 Pages
    Great Essays
  • Improved Essays

    Unit 7 D2

    • 693 Words
    • 3 Pages

    Strategic planning is a Series of processes in which an organization (including government agencies, health care, education, military, and nonprofits) selects and arranges its businesses or services to keep the organization strong and able to handle unexpected events. Strategic planning involves environmental scanning and prediction (of long term goals, competitors and even how to achieve a competitive advantage), or SWOT analysis.…

    • 693 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Swot Analysis Of Jetstar

    • 704 Words
    • 3 Pages

    Strategic planning is a disciplined effort to produce fundamental decisions and actions that shape and guide what an organization is, what it does and why it does it, with a focus on the future. It also can be defined as the process of determining the primary objectives of an organization and then acting and allocating resources to achieve those objectives.…

    • 704 Words
    • 3 Pages
    Improved Essays
  • Superior Essays

    Risk assessment is a very important tool in our everyday lives. Everyone uses it and some do not realize they are using it. It used when we are in our cars driving down the road, when we cross a busy street or playing in the park. The Department of Homeland Security (DHS) and every one of its 22 different agencies use some sort of risk assessment in defense of this great nation. There are so many risks to this nation, terrorist attacks as well as natural and man-made disasters to name a few that DHS must effectively manage all these and then some. DHS must allocate resources correctly and plan at the highest levels in order to defend to the best of its ability. The fact of the matter is DHS cannot foresee or plan for every terrorist…

    • 1194 Words
    • 5 Pages
    Superior Essays
  • Improved Essays

    The effectiveness of risk management in homeland security and the benefits are staggering. This next few paragraphs will touch on just a few of the many benefits. The first and perhaps interesting benefit is its use in real world events. As most military folks know, the key to success is rehearsals or rehearsal of concept (ROC). When producing a risk matrix for a rehearsal, it provides insight on the possible dangers hiccups that may occur during an operation. This enables all parties to adjust prior to “boots on the ground” to ensure that minimal risk is taken.…

    • 424 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Risk Assessment Definition

    • 1802 Words
    • 8 Pages

    Risk is everywhere. Risk assessment is everywhere. Think about almost everything you do today, you are thinking a million miles a minute in your brain about the risk. Your thinking, “is this safe? How safe is this? What are the risk to doing this?” Every day the Department of Homeland Security is doing this risk assessment on everything in its control. These assessments are being done on facilities, areas, events and personnel that it is ultimately responsible for. The Department of Homeland Security has a formula to assign a level to the assessments being done.…

    • 1802 Words
    • 8 Pages
    Improved Essays
  • Improved Essays

    Oxfam Swot Analysis

    • 905 Words
    • 4 Pages

    Every organisation has some specific strategies to run the business perfectly. Strategy is the direction for an organisation which shows the way to reach the goal. No organisation can achieve their goal without specific strategies. So the different strategies are taken to establish the business in this competitive age. Strategic planning is one of them and its effectiveness varies on what type of organisation and what are their mission, vision…

    • 905 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Absolute Risk Reduction

    • 825 Words
    • 4 Pages

    Calculating absolute risk indicates the probability of the outcome on population in percentage when using the intervention or control. Absolute risk reduction indicates the difference of risk when using the intervention and control within the population helping in decision making.5…

    • 825 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Strategic plans provide routes for organization's objectives and define the actions needed to obtain a strategic finish, including decisions that can modify the direction of the company. Strategic planning view decision-making as a logical process, which the strategy is formulated and implemented by the organization. The strategic plans are long-term and usually stays in place until goals have been established (Barnat, (n.d.). In planning strategies, managers need to articulate and develop organizational structures, also implementing reward incentives to promote management to think strategically. A simple process for developing a strategic plan may…

    • 806 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    Risk Mitigation Plan

    • 1096 Words
    • 5 Pages

    As stated above each risk has an associated strategy/guideline. In this risk mitigation plan we identified the risks above and assigned an order of probability. Below we implement a plan on how to handle each risk.…

    • 1096 Words
    • 5 Pages
    Great Essays
  • Superior Essays

    Cyber Attack Case Study

    • 956 Words
    • 4 Pages

    Strategic planning begins with the prevention or minimizing the attack to a business. Businesses are a value and because a business has value, there will always be a threat for business information, and this is what makes a business vulnerable.…

    • 956 Words
    • 4 Pages
    Superior Essays
  • Superior Essays

    In the world of business, strategic planning is vital in avoiding future downfall. Without taking the time to create a plan for future success, companies will ultimately meet their demise. It’s easy for leaders/CEO’s to become overwhelmed in the day to day company operations, however without a strategic plan to identify changes that are consistently taking place in society.…

    • 859 Words
    • 4 Pages
    Superior Essays
  • Improved Essays

    Formal strategic planning systems are not the best when competing in high-technology industries where the pace of change is so rapid that plans are routinely made obsolete by unforeseen events. Strategy is important in any business for the benefit of success. What is formal strategic planning? Strategic planning is a development in a business that is comprised of goal planning that are short and long in term. The formality is incorporated when goal planning is developed with a set mission statement along…

    • 1170 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Quantitative Risk Analysis

    • 1299 Words
    • 5 Pages

    Quantitative risk analysis is the one which follows the Qualitative analysis, and gives a numerical priority rating to project risks (PMI, 2009). Based on the PMBOK (PMI, 2013) quantitative risk analysis “… is the process of numerically analyzing the effect of identified risks on overall project objectives (p. 333).” This is also a process for the PM and project team to get risk data to support making decisions, which can help to reduce project uncertainties (PMI, 2013, p. 333). Based on the prior researchers’ statement, the Quantitative Risk Analysis is more complicate and even the most difficult part within risk management since it requires statistical and mathematical methods to be operated (Purnus & Bodea, 2013, p. 145).…

    • 1299 Words
    • 5 Pages
    Improved Essays

Related Topics