Essay on The Fundamentals Concepts And Principals Of Risk Management

Essay on The Fundamentals Concepts And Principals Of Risk Management

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1. Explain how the fundamentals concepts and principals of Risk Management apply at home, at work, in the community, and at critical infrastructure locations.
Risk management at home is the steps we take, sometimes intuitively, in dealing with problems that might arise. Examples include setting the alarm, buying a generator, or locking the doors. Nevertheless all approach risk in different ways. While most people might set the alarm as they leave the house, fewer people might do so if they are at home and yet fewer people might buy generators to be prepared in the event of a power emergency. The determining factors are personalities, experiences, risk tolerance levels, etc.
Community risk assessment can be very complex or very basic depending on the availability of local resources. The way communities address risk assessment range from the ability of individuals to perform CPR to the participation of individuals to offer assistance and expertise that reside within the community. Citizens can and do play a vital risk management role within their communities. The public awareness program that encourages the general public to “see something, say something” is more than a slogan and citizens are encouraged to take it seriously. Another way that communities help with risk assessment is preparing for known hazards and threats. FEMA Website offers a vast array of information and guidance in the areas of home and community risk management and preparation.

The risks at workplace can be complex with very high stakes. It is important that individual employees to view risk management at an organizational level and not merely at a personal level since instinctive or informal risk management does not offer the broad view that takes ...

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...ables them to develop all-encompassing approaches to gauge performance and gain visibility into the progress being made. RA being a systematic and comprehensive approach it allows for a systematic and comprehensive approach to homeland security decision making as well as selection among alternative strategies, follow-on actions, and the evaluation of the steps taken within each of selected activities.

The DHS objective, via RA, is to facilitate building of resilient infrastructures, systems, communities, and institutions. The DHS document titled Risk Management Fundamentals (DHS 2011, 10) states, “Resilience and risk management are mutually reinforcing concepts.” From this one can conclude that RA helps the DHS leaders in the process of achieving resiliency by helping gain visibility into planning and resourcing to reduce risks and mitigating their consequences.

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