Pros And Consequences Of Risk Management In Homeland Security

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R = ƒ(C*V*T)
This is the formula that is used throughout the United States government to execute risk management. The formula breaks down into three distinct categories that will determine the level of risk associated with a specific target. These three categories are consequences, vulnerabilities, and threat. Ultimately, agencies evaluate the risk factor by making an effort to manage it. Risk management plays a huge part in our everyday lives. Each one of us takes risk management into every endeavor we encounter. Should I buy this house? What will the market look like in 10 years? What will my budget look like after I buy this house? Should I take the risk? So likewise we see this in the Department of Homeland Security and how they develop risk management. What is the threat? Where are the vulnerabilities associated with this target? What would the consequences be? What level of risk is associated with the decisions made to secure it? These are all questions being asked at the highest levels in our government when making decisions in regards to risk management in homeland security.
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The more vulnerabilities actually identified around a target can increase its resilience. Identifying vulnerabilities provides the opportunity for assets to be utilized and mitigate the weakness. Technology has become an increasingly valuable tool in covering these vulnerability gaps. Today we have surveillance, alarm, detection, and defense systems that mitigate massive amounts of manpower and resources to fill these gaps. As technology progresses the price of securing security gaps starts to become fiscally demanding. Fiscal restrictions can also be considered a vulnerability. In the military I’ve heard, “if we could get this funded it would solve so many problems”. Funding vulnerabilities must to be tied to a credible threat, whether direct or indirect. This leads into the allowable amount of
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