1. What is a standard risk assessment formula? Define the variables in the formula.
To understand what a risk assessment formula is, how it is employed and the variables that contribute to its composition we need to understand the concept of risk. Several measurable factors drive risk, and consequently the risk management process. A good risk management approach includes three primary elements. These elements are a threat assessment, a vulnerability assessment and a critically assessment (Decker 2001). The DHS loosely defines risk with these three variables. Using these three variables one can establish a risk assessment formula; this formula will establish the priority, necessity and operational tactics. The threat assessment will identify the likelihood of an attack based on various factors, including capability and …show more content…
This rough equation with other associated risk management techniques help drive operations in the DHS in identifying threats, vulnerabilities and identifying how critical attacks can be. Risk management also dictates the actions of other agencies that are involved in homeland security and its effort to protect this country. There is a fine line between funding one area of homeland security over another; this is the key to risk management. Each agency like border patrol, ICE, state and local law enforcement will argue how important their defensive mission is and how important they are to the security of the homeland; however, the information collection efforts, the understanding of subordinate institutions and government entities will allocate how much funding will go to each