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Do you agree or disagree? Why?
1. What is a standard risk assessment formula? Define the variables in the formula. Should each
variable in the risk formula be weighed equally or should different variables have different weights?
Explain your rationale.
When I originally learned the risk assessment formula the formula was R=T*V*C. I found it
interesting to see the formula has changed to Risk=f(T*V*C), when the risk is terrorism but the old
formula remains for FEMA. Risk is this instance is the level of risk for a situation. The “f” is the
function of threat, vulnerability and consequence. The threat (T) is a situation where a loss would
occur. Vulnerability (V) speaks to the target of a situation and how difficult it would be for an
attack to take place. Consequence (C) is what impact an attack would have.
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I believe that each situation should determine the weight of each variable in the formula. For
instance, the threat and vulnerability for a target could be high, but the consequence could be
small and have little effect if attacked.
2. How does the perception of risk influence risk management programs, including such aspects of
weighting of risk elements and acceptable level so risk?
Even with events in day to day activities, how something is perceived has an effect. Something
very small and insignificant can have a snowball result and turn into a much larger issue, the same
can hold true for risk management programs. The perception of risk is also determined by who is
determining the risk. The Department of Homeland Security will look at risk or acceptable risk from a
different point of view than a citizen who may never be in a situation to be put at risk or be put at
risk, but one of few in the setting.
3. Describe the benefit of a risk management program as applied to homeland security
operations.
Risk management programs play an important part in homeland security. Benefits to homeland
security include the ability to determine the need and location of national as well as state resources.
Risk management systems can help to determine where additional money needs to be budgeted or
reduced based on determined risk.
Analysis, Committee to Review the Department of Homeland Securities Approach to Risk, and National Research Council of National Academies. 2010. Review of the.
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