1) Responded to message below. Should be at minimum of 250 words include direct discussion of the main points, answers, and question. Include at least 2 APA-cited references. Cite information and adding a body of knowledge and relevance.
Risk management is a means to identify, analyze, developing a solution, and deciding on what measures and what course of action will be taken with the purpose of reducing the risk and an acceptable level. Many factors are put into consideration that is associated with that influence the lost versus benefits gained from a decision.
The Department of Homeland Security (DHS) risk management process serves to strengthen resilient systems within communities and institutions that increase DHS capabilities, adaptability, and robustness to response to an incident.
The NIPP Risk Management Framework consist of seven steps: set goals and objectives, identify asset, system, and networks, assess risk, prioritize, implement programs, and measure effectiveness (Department of Homeland Security, 2009)
By design, risk management allows all stakeholders to evaluate all available information and developing one or more solutions that is best suited for the situation.
The benefits of using a risk-based approach are to gain knowledge and a better comprehensive understanding of the basis of knowledge in an attempt to deciding on the best course of action to be implemented. Analysis and deliberation are the two approaches that are incorporated into risk management.
Analysis is used through methods that can be replicated and evaluated under the agreed protocols of experts to answer factual questions of threat and risk. Deliberation is formal or informal process for collective communication and consideration of issues by participants who discuss, exchange perspective and ideas, and make timely, sound decisions (Risk Management Fundamentals, 2011).
Government agencies, the workplace, and in our personal lives in some shape and form revolves around a process of risk management. When me being in the United States Army, there are many times a day I have to implement risk management as a leader and as an individual.
My decisions will influence and contribute to the success or failure of the mission of the team.
Each day I apply risk management in preparing for the next duty day (work day). My first hard hit time is 6:30 am accountability formation. With all the security checks and protocols that are in place at Fort Bragg, NC and the heavily vehicle traffic is a risk factor that if I do no plan properly can result in me being late to work.
To avoid the risk of being late and caught in the heavy traffic I set my alarm clock to 5:00 am in the morning and I am out to the door of my house no later than 5:25am. The risks that stay out with me implementation of this decision are that it's still dark outside and still being possibility tired from lack of sleep. The measures I put into place to help reduce the risk are ensuring that my headlights properly work before I start driving and I go to sleep no later than 10:00 pm each night to ensure I get at least 7 hours of rest.
6:30 am to 7:30am is the time set aside for us to do collective exercising in order to remain in top physical condition. When 7:30 am arrives Soldiers are either walking back to their barracks building or getting back into their vehicles to shower, change into their duty uniform, and eat breakfast. The hazards with this is that there the heavy traffic that can result in a car accident or hitting a pedestrian trying to cross the street.
The measures I take to reduce this risk is by packing my Army uniform, gym clothes, and person hygiene products in my gym bag the night prior and use the nearest gym (which is a minute drive) to take a shower and change into my army uniform. By the time that is all done the traffic is light and allows me to go the store and grab some breakfast.
2) Responded to message below. Should be at minimum of 250 words include direct discussion of the main points, answers, and question.
Include at least 2 APA-cited references. Cite information and adding a body of knowledge and relevance.
Benjamin Franklin once famously said "Nothing is certain except death and taxes" (Deis, 2010). While this statement still rings true, risk could be added to this list, considering that almost every action a person takes throughout their lives includes some level of risk.
Whether it is crossing a busy street, participating in a dangerous occupation or simply choosing how to invest money for retirement, every decision we make has the potential to result in negative consequences.
No matter how large or small those consequences may be, we all try to mitigate risk the best we can so that we are safe, secure and successful. In order to do this we all undertake forms of risk management to identify and assess threats, vulnerabilities and potential negative outcomes.
However, these concepts do not stop with the individual, while our bodies may be programmed to conduct risk management a bit more "naturally", more complex risk management programs have become a part of our work places, communities and in key areas like the critical infrastructure sectors.
There are many different risk management programs used throughout the world, with varying levels of structure, objectivity and overall success, however, one risk management alternative that can be used to support better risk management decision making is the use of modeling. Modeling can be a valuable tool in testing and evaluating different courses of action and can be useful in the risk management realm when it comes to identifying and assessing threats and vulnerabilities as well as implementing mitigation strategies.
The benefits of modeling go beyond standard assessment tools by increasing the likelihood of predicting outcomes, especially when using explicit models. However, modeling can also help explain a threat or vulnerability, generate questions that may have been overlooked using other risk assessment methodologies and help train and educate both the practitioners and the general public, just to name a few (Epstein, 2008).
Modeling can also enhance the strength of a risk management program by helping those in charge make decisions based on evidence rather than on assumptions. The use of evidence helps remove subjectivity from the risk management process, which as we have seen throughout this course, represents one of the biggest pitfalls of defining, assigning, assessing and ultimately mitigating risk.