The thread must be a minimum of 250 words. MINIMUM OF TWO SOURCES BESIDES THE TEXTBOOK. Must cite at least 2 sources in addition to the Bible.
TEXTBOOK: Bennett, B. T. (2018). Understanding, assessing, and responding to terrorism: Protecting critical infrastructure and personnel (2nd ed.). Hoboken, NJ: John Wiley & Sons, Inc. ISBN: 9781119237785.
Risks are any potential negative actions that could occur during or after a planned event. Examples could include a training evolution or a ‘real world’ mission or operation. Risks may involve potential loss of life or injuries, equipment and/or mission failure. Each of these risks must be identified and assessed to determine if the risks are indeed worth taking to achieve the goals or objectives of the planned endeavor. If the risks outweigh the reward, then further assessment should be explored to determine the feasibility of conducting the event, operation, etc… According to the Department of Homeland Security (2011), establishing the capability and ability to identify, comprehend, and address these complex challenges and opportunities is the basis of risk management. Further, risk management enhances and improves the decision-making process for leadership personnel. Quantitative and Qualitative Risk Analysis According to Francisco (2022), “qualitative risk analysis is based on a person’s perception or judgment while quantitative risk analysis is based on verified and specific data” (para 5). When implementing qualitative risk analysis, the value is the risk rating or scoring. Risks can be designated “low” or labeled a score of 1 to show that the risk is not emergent or requires immediate attention. When using quantitative risk analysis, the values given each risk is oftentimes in percentages, while also indicating the probability of the risks occurring or of the risk casuing a specific effect upon the project or mission gols and objectives. Also, Munteanu (2006) notes that qualitative assessments can use risk assessment matrix and questionnaires and within risk matrix, risks are ranked as low, medium or high, and respondents use a risk scale for risk ranking in the respective questionnaire. Risk assessments should be based upon a true comprehensive risk assessment, as well as classified by the depth of any scenario that could arise from accepting these risks. Further, each risk assessment should be reviewed by the level of severity so the correct level of protective measures can be implemented as soon as the hazard is identified. Oftentimes, an emergent situation or contingency occurs that is not a worst-case scenario, so dedicating resources to a relatively minor incident could draw the allocated resources away from a more severe emergency. Levels of Analysis At the asset level of analysis, a survey is conducted examining an asset’s mission-critical elements along with a thorough understanding of the consequences of “disruption, physical and security vulnerabilities to a wide range of hazards and threats, and asset attractiveness provides insight into actions an asset owner can take to reduce an asset’s overall risk exposure” (Ayyub et al., 2007, p. 791). At the portfolio level, the total risk associated with the portfolio or group of assets are assessed to compare alternatives that seek to reduce the overall risk (Ayyub et al., 2007). Christian Worldview 1 Peter 4:12 (English Standard Version) speaks of hazards and risks, stating “beloved, do not be surprised at the fiery trial when it comes upon you to test you, as though something strange were happening to you.” References Ayyub, B.M., McGill, W.L., & Kaminskiy, M.P. (2007). Critical Asset and Portfolio Risk Analysis: An All‐Hazards Framework. Risk Analysis, 27. Bennett, B. T. (2018). Understanding, assessing, and responding to terrorism: Protecting critical infrastructure and personnel (2nd ed.). Cuesta, A., Abreu, O., Balboa, A., & Alvear, D. (2019). A new approach to protect soft-targets from terrorist attacks. Safety Science, 120, 877-885. Holy Bible (English Standard Version). https://www.openbible.info Monahan, J. (2012). The individual risk assessment of terrorism. Psychology, Public Policy, and Law, 18(2), 167. Munteanu, A. (2006, June). Information security risk assessment: The qualitative versus quantitative dilemma. In Managing Information in the Digital Economy: Issues & Solutions-Proceedings of the 6th International Business Information Management Association (IBIMA) Conference (pp. 227-232). Francisco, E. (2022, December). Qualitative and quantitative risk analysis. Safety Culture. Retrieved from https://safetyculture.com/topics/qualitative-and-quantitative-risk-analysis/