AJS 564 Risk_Management.doc Risk Management AJS/564 University of Phoenix Risk Manage

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AJS 564 Risk_Management.doc Risk Management AJS/564 University of Phoenix Risk Management Justice and security employees have major responsibilities by each person involved. In any given day on d... uty for a police officer, security guard, judge, attorney, warden, or private investigator their lives and the lives of the communities they work in are at risk. A safe work environment in the office and out in the field for workers in these positions can make every bit of difference in a day™s work. This paper will discuss the basic elements of risk management within justice and security organizations and explain why risk is important, how these organizations plan for and manage risk, civil liability and it™s relation to organizational risk, the costs associated in managing risk, the consequences of failing to manage risk, and the benefits of a properly performed risk analysis has for management and key stakeholders. Risk Management In a society where businesses are run by a combination of people and high technology equipment (i.e. computers, heavy machinery, video/communication devices), there is always a potential of failure and unless a good risk assessment is performed and there is not a good risk management plan, it could cost possibly millions of dollars to recover. According to Smith, Scmalleger, and Siegel (2017), risk is best defined as œThe measure of probability or potential and severity of adverse effects. Risk characterizes the likelihood of an unfavorable outcome or event occurring (p. 85). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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