Managing A Strong Risk Management Program Essay - 983 Words

As a country we have learned that disaster and attack are inevitable. In in order to maintain resilience it is important to establish a strong risk management program. It can be difficult to conceptualize risk management as a program and a framework. It is first important to identify the critical infrastructure and key resources that require risk reduction and the mitigation of consequences. In this essay we will examine how risk management is used by the homeland security enterprise, and how that use benefits such aspects as resource allocation, strategic planning, and grant writing. Critical infrastructure is defined in the Patriot Act as systems and assets, physical or virtual, so vital to the United States that the incapacity or destruction of such systems and assets would have a debilitating impact on security, national economic security, national public health and safety, or any combination of those matters (Homeland Security Digital Library). In order for the communities in Am erica to thrive and survive there are certain components that needs to remain functional. Functionality of those components needs to be re-established in a timely matter if an emergency or disaster strikes. Risk management is a systematic and analytical process that considers the potential of a threat that could endanger an asset, individual, or function. The principles of risk management use an approach that includes three elements; threat assessment, vulnerability assessment, andShow MoreRelatedApplication Essay to The Financial Risk Management Program977 Words   |  4 Pagesis to help a firm manage its financial risk by developing and applying effective risk management strategies. My long term goal is to lead an enterprise wide risk management program for a multi-national company. 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