[meteor_slideshow slideshow=”arp1″]
In the emerging professional field of Legal Risk Management, operations research has been added to the analytical mix of more traditional actuarial and statistical risk assessment. Security Management Professionals, attorneys, corporate managers, and economists and actuarial and operations research professionals have begun to learn the hard way to work together in a more synergistic and collaborative milieu. Effective risk management in the real world requires the professional foresight to anticipate and factor in a wide range of "risk externalities" that often are unknown and unactualized at present.
Practical Application: The Pearl Harbor Syndrome: This syndrome is metaphorical for worst case scenarios that could perhaps have been easily prevented with proper foresight and risk management strategies. Operations Research professionals often refer to the "statistical regress fallacy", which in an "Occam’s Razor" definitional sense simply believes that the structure of probability can be derived from a set of data. Professor Nassim Nicholas Taleb, in his excellent treatise discussing the meta concept of the "Random Black Swan" does an excellent exegesis of this fallacy.
At Pearl Harbor there were many squadrons of Army Air Force aircraft parked wing to wing. Fuel was available, pilots were trained and available, yet these aircraft were reportedly not detailed to fly systematic and comprehensive search grid reconnaissance flights over the likely ocean approach/corridors of attack for the "risk externality" of the inbound Japanese carrier battle group. It may be true that Army pilots were not trained to fly Naval reconnaissance missions over open ocean, however, search matrix grids over ocean are essentially the same as search matrix grids over land. All the permutations of "risk externalities" need to be actuarially matched with every possible resource so as to reduce or mitigate such risk. Security failure often involves a coalescing of denial of the random or risk externality which is a causative factor in secondary failure to mobilize all effective resources.
"Catastrophic Risk Management in the Public Sector" Professor Michael Rich, Rand Corporation
https://www.rand.org/pubs/corporate_CP598.pdf Used by permission of Rand Corporation [for limited academic and educational purposes in the classroom setting]
[meteor_slideshow slideshow=”arp2″]
A-Research-Paper.com is committed to deliver a custom paper/essay which is 100% original and deliver it within the deadline. Place your custom order with us and experience the different; You are guaranteed; value for your money and a premium paper which meets your expectations, 24/7 customer support and communication with your writer. Order Now
Use the order calculator below and get started! Contact our live support team for any assistance or inquiry.
[order_calculator]