The Importance Of Risk Management In Homeland Security

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Risk management is very important in the homeland security enterprise since it is one of the core missions of the lead agency in charge of homeland security matters in the United States, which is the Department of Homeland Security (DHS) (Masse, O’Neil & Rollins, 2007, p. 1). The main mission of the DHS is to proactively identify threats to the homeland and to reduce the risks of those threats, which will hopefully prevent the threat from occurring (Masse, O’Neil & Rollins, 2007, pp. 1, 3). However, most of the times the risks cannot be completely eliminated; most of the times they can only be reduced (Masse, O’Neil & Rollins, 2007, pp. 1, 3). Therefore, preventing threats and reducing risks can only be accomplished through risk management, which is why it is so critical in the homeland security enterprise. Risk management can help identify homeland security priorities, it can improve resource allocation efficacy, and it can make grant funding programs more effective. Because not all threats in homeland security have the same risks level or priority, it is necessary to understand the risk level of each threat (American Public University System, 2017). To understand the risk level of threats, homeland security enterprises rely on formulas that will help determine the risk level of each threat. Although there are many different types of formulas that can be used, the standard risk assessment formula in homeland security is R = F( C, V, T) (American Public University
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