Security Risk Management Essay - 2181 Words

Introduction The reader will become familiarised with the term risk and it definitions from specifically the ISO 31000 standard of risk management and also the definition of risk from the criminology crime triangle. Which one of these two definitions that are the most suitable for usage within the security industry will be discussed and evaluated. How and why consequence is important when assessing risk priorities and determining where to allocate resources will be examined and answered. 1. Definitions Security risk management is â€Å"the culture, processes and structures that are directed towards maximizing benefits and minimizing disbenefits in security, consistent with achieving business objectives†. (Australia, 2006) And where†¦show more content†¦There are three elements that must exist for a crime to occur: †¢ motivation †¢ capability †¢ opportunity This concept is called the crime triangle. With knowledge of the elements within the crime triangle the risk of a crime being committed can be estimated and preventative measures may be put in place. Motivation according to Vellani is created by the actual target for the crime which is the asset or assets. An asset contains of people, property and information. Vellani states that removal of motivation probably is impossible, and therefore the focus for security programs should be reducing the opportunity to commit crime. Vellani suggests that the crime triangle is an easy and effective method of illustrating how crime can be prevented. 1.3. Consequence Consequence is described in the risk management standard as the â€Å"outcome of an event affecting objectives†. (Australia, 2009) According to this a consequence can be both positive and negative. 2. What are the needs of the security industry? To answer that question one must first know what the security industry is. According to Brooks (2009) security is not easily defined and can even be considered being the national military defence. To exactly know what the security industry is it therefore quite intricate. However the assumption is made that the security industry and security in general has the same needs. As previously mentioned security risk management shouldShow MoreRelatedSecurity Risks And Risk Management1267 Words   |  6 PagesEHEALTH SECURITY RISK MANAGEMENT Abstract Protecting the data related to health sector, business organizations, information technology, etc. is highly essential as they are subject to various threats and hazards periodically. In order to provide security, the information has to adapt to certain risk analysis and management techniques which has to be done dynamically with the changes in environment. 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