What Role Does Risk Management Play Within The Homeland...

What role does risk management play within the homeland security enterprise? To answer that question we first have to examine what risk management is. Risk management is an anaclitic approach to figuring out the likelihood that an event will impact a specific assets, person, or function and then implementing steps to mitigate the impact or consequence of the event. (Decker, 2001) The Standard risk management formula that the Department of Homeland Security uses is R=T*V*C or Risk = Threat * Vulnerability * Consequence. To understand this formula and how it is used we first have to beak down each part. Risk is defined by Homeland Security as potential for an unwanted outcome resulting from an incident, event, or occurrence, as determined by its likelihood and the associated consequences. They define threat as natural or man-made occurrence, individual, entity, or action that has or indicates the potential to harm life, information, operations, the environment, and/or property. Vulnerability is defined as qualitative or quantitative expression of the level to which an entity, asset, system, network, or geographic area is susceptible to harm when it experiences a hazard. And lastly they define consequence simply as effect of an event, incident, or occurrence. (Homeland Security, 2010) Before The Department of Homeland Security can implement this formula, they first have to go through a series of assessments. These are threat assessments, vulnerability assessments,Show MoreRelatedThe Rookie Chief Iso Essay3886 Words   |  16 PagesTERM PAPER â€Å"The Rookie Chief Information Security Officer† Bradford Daniels Professor Steven Brown SEC 402 17 March 2013 1. a. Create an Organization Chart in which you DANIELS INC CLOUD COMPUTING ORGANIZATIONAL CHART i. Illustrate the roles that will be required to ensure design, evaluation, implementation, and management of security programs for the organization. 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