THE USE OF BASELINE MEASURES IN RISK ASSESSMENT

In the financial sector Risk Management has become a well established method for ensuring that investments are made on a sound basis. It enables managers to decide the level of risk they are prepared to take and the corresponding level of funding. In the security context, when managing the ‘risk’ to the security of an asset, the dangers and threats to an asset must be correctly assessed and afforded appropriate security with the funds and resources available. Risk management of protective security is followed by many countries and organisations . Risk Management promotes effective and appropriate methods of security. It directly correlates an asset’s vulnerabilities to perceived risks rather than relying on prescribed “across the board” physical security standards”. Whilst the principle of risk assessment is not in question, there may be some shortcomings as the result of the way it is implemented. Implementation of risk management touches all levels of the management chain. The success of risk management is as good as the practises that implement it. The management of risk must not be clouded by perceived conditions or agendas.