Risk Management
Application of Risk Management Principles in the Department of Homeland Security
The department of homeland security was established shortly after the 9/11 attack on the world trade center and the military headquarters. The government found out that it was badly exposed in handling internal security. The existing structures were not working because the state agencies were never coordinating in addressing terrorist attacks. Currently, DHS takes the issue of security seriously and it has developed measures that aim at mitigating the problem even before it happens. The aspects of risk management are applied in dealing with any threat. Risk management is an effort aimed at trying to determine up front the various things that could otherwise go wrong if measures are not taken in advance. Therefore, the department of homeland security has been trying to identify the problem in the security sector, classifying the issues, and prioritizing the risks. The entire process of risk management involves monitoring the situation, trying to institute controls, and mitigation of the risks. The sources of risks are several since they might emerge from the internal environment or external but the department has to be on its toes to ensure …show more content…
Managers in the private sector are always prepared to address any form of risk, but the governmental sector is always ill prepared to address such risks. Due to the severity of the problem facing the department of homeland security, the application of these principles is inevitable. The principle could be in form of a process or could be the principles applied in dealing with the risks directly. In the process of dealing with the risk, those involved ensure they create value and the process has to be part of the organizational strategy. The strategy aimed at mitigating the risk should actually address the uncertainty and has to take into consideration the human
Application of Risk Management Principles in the Department of Homeland Security
The department of homeland security was established shortly after the 9/11 attack on the world trade center and the military headquarters. The government found out that it was badly exposed in handling internal security. The existing structures were not working because the state agencies were never coordinating in addressing terrorist attacks. Currently, DHS takes the issue of security seriously and it has developed measures that aim at mitigating the problem even before it happens. The aspects of risk management are applied in dealing with any threat. Risk management is an effort aimed at trying to determine up front the various things that could otherwise go wrong if measures are not taken in advance. Therefore, the department of homeland security has been trying to identify the problem in the security sector, classifying the issues, and prioritizing the risks. The entire process of risk management involves monitoring the situation, trying to institute controls, and mitigation of the risks. The sources of risks are several since they might emerge from the internal environment or external but the department has to be on its toes to ensure …show more content…
Managers in the private sector are always prepared to address any form of risk, but the governmental sector is always ill prepared to address such risks. Due to the severity of the problem facing the department of homeland security, the application of these principles is inevitable. The principle could be in form of a process or could be the principles applied in dealing with the risks directly. In the process of dealing with the risk, those involved ensure they create value and the process has to be part of the organizational strategy. The strategy aimed at mitigating the risk should actually address the uncertainty and has to take into consideration the human