Instructions: Students will prepare a point paper MINIMUM OF 1000 words that provides a critical analysis of an existing risk assessment methodology. Please use APA format. Students should do some independent online searches (Google, Bing, etc.) to find an existing risk assessment method that they want to write about and describe.
A risk methodology is a procedure or a model or a program with steps, that are used to determine risk. Some examples are the Maritime Security Risk Analysis Model (MSRAM), then there is the CARVER model, Operational Risk Management (ORM), etc.
The point paper shall highlight:
Its main points,
Its current relevance as discussed by risk experts, and
Its ease of application by the average security officer to critical infrastructure protection and resiliency.
Research will be required into the various methodologies that you choose to discuss (some of which will be discussed in future weeks), and on critiques/comments concerning its accuracy, relevance, and ease of use.
Your analysis should address:
The methodology’s origin,
A description of the methodology’s main elements and attributes,
A characterization of the methodology’s quantification scheme (i.e., how it adds up the risk factors),
Its approach to aggregating threat, vulnerability and consequence into “risk,” and
Its treatment of man-made versus natural hazards, and your personal opinion as to its strengths and weaknesses