Risk Management Stratgic Framework - Essay Example

Analysis of Risk Management Analysis of Risk Management Question The results of an effective security investment are that losses would be prevented from potential threats. The recommended measurement is effective tracking which requires using effectiveness criteria in order to examine performance results with realistic metrics that provide concrete examination of the effectiveness. In addition, situational awareness can reveal what changes may be needed in the efforts towards risk management. Models of evaluation can include role-playing exercises as well as scenario model building, external reviews, and surveys about the methods that have been employed.

Testing effectiveness is also a good method in determining whether or not risk management is creating a higher level of benefit in contrast to the costs of implementation. Performance management should include evaluation and the monitoring of the implementation strategy in order to continue assessing value of the methods of risk management that are being used.1Question 2: There are a number of responsibilities the public has in terms of risk management. First, it is the responsibility of each individual to make sure that the data is not used responsibly, and that they utilize common sense in protecting their personal identity.

Although identity theft is very difficult to prevent, using practical applications of common sense in terms of data supports personal protection, which contributes to overall risk that can come from the use of an individuals identity in order to infiltrate or corrupt data in organizations. Taking immediate action when there has been a clear violation of data is also essential in helping to inform organizations that a breach has occurred. With the help of individuals, organizations and public institutions can help support rapid action against infiltration and corruption which is of benefit to the organization and the individual who participate in the benefits of the organization.

Question 3: Risk communications are typically separated with internal and external audiences, each having specific requirements and strategies that must be employed. Two way communications throughout risk management processes provide for the key principles that are intended to be met to be addressed in the management of risk. Transparency is one of the keys to strategizing for risk indication so that everyone who is involved as the essential information in order to perform appropriately and effectively.

It is often necessary to communicate with external stakeholders, allowing the public to have appropriate information to minimize fear while also establishing a foundation of trust. Perceptions of risk and knowledge of risks must be taken into account when communicating with the public.2 This can mean the difference between efficient restoration of services and the development of chaos. Strategies provide for methods of performing communications in order to optimize efficiency and ultimately manage the risk effectively.

The interrelated aims that the strategies for risk communications should intend to include: plan for communications, maintaining trust, using language appropriate to the audience, being both clear and transparent, respecting the concerns of the audience, and maintaining integrity of information.3Bibliography “Risk management fundamentals”, Homeland Security. April 2011.