Benchmark risk management in Australia, UK and USA Research Paper

Benchmark risk management in Australia, UK and USA - Research Paper Example Since the greatest threat to physical installations and assets is from terrorist activities, therefore, it is pertinent to review what planning and strategies have been defined by the selected police departments in countering terrorist acts and risks associated with them. Geographic Scope United Kingdom, United States of America and Australia Summary of Best Practices related to Risk Management of Physical Assets and Infrastructures Integration of security and safety plans and strategies, so as to ensure that the whole system operates with full force and concentration. Communication and coordination with community in order to bring down risks associated with potential threats. Effective communication of potential threats and risks with concerned authorities and stakeholders. Making use of technology to avoid or prevent damages from unforeseen events. Categorical assessment of risk related to physical assets and infrastructures, so as to understand the degree of risk associated. Integ ration of controlling, coordination and command for risk management. UNITED KINGDOM London Police Department The London Police Department is divided into four directorates which assume different responsibilities. For each of the directorates, a separate risk management strategy is devised by the police department, under the leadership of Stephen Rimmer, the Director of Strategy Modernization and Performance Directorate. In the coming lines, the researcher would discuss a number of risk management strategies adopted by the London Police Department, in order to protect its physical assets from terrorist attacks, natural disasters and riots, but the focus would be on terrorists’ attacks as this factor is considered as being more destructive for physical assets of London Police Department. KEY STRATEGIES TO COUNTER RISK ASSOCIATED WITH PHYSICAL ASSETS London Police Department uses a 360 degree mechanism for its field operators to report any damage in case of terrorist attack, acc ident or natural disaster. Besides, wireless cameras are also installed on the site where physical assets are installed by the Police Department. Risk Management Process and Mechanism By communicating with field operatives, the staff sitting at the central monitoring area fetches information about the damage occurred to the physical assets of the organization. After receiving the information about the damage, the central monitoring area’s staff evaluates the level of risk assumed by the field operatives, occurred to a physical asset. These physical assets might include security check points, railway stations, heavy traffic points, hospitals, shopping malls and etc. The figure given below would help the readers to understand, how this whole process works: As it can be observed, that this is a simple process to avoid any damage from the previously mentioned incidents, that may result in an unfavorable impact on the physical assets of the London Police Department. From evaluatin g, the process enters into the policy formulation or mitigation plan development phase where the experts designs a risk management plan to ensure that the organization does not loss on the monitory value of the physical assets mentioned. The installation of surveillance cameras is another strategy that London Police Department has used wisely over the years to overcome the monitory loss that it incurs from the damage to physical assets of the organizations. These surveillance came