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CRISIS MANAGEMENT RISK ASSESSMENT QUANTITATIVE METHODS APPLIED ON THE CRISIS EVENT
Abstract
The paper deals with quantitative methods of risk management applied to a crisis event of criminal origin. Two quantitative risk assessment methods are introduced. The event tree analysis and the RM/RA CRAMM method are applied from the perspective of crisis management in the phase of criminal crisis prevention. The advantages and disadvantages of the quantitative methods compared to qualitative methods are discussed. The quality of input data is accented to get reliable results that can be seriously taken into account by crisis managers or other stakeholders. The risk identification phase is the most critical part of the risk assessment process. The steps of the quantitative risk identification are presented in detail. The rules for reliable risk assessment are explained in logical steps. The issues of probability data and trends are also introduced to get reliable risk assessment results. The risk value is calculated as a function of the potential damage and the probability of damage occurrence in both methods introduced. The paper also underlines the universality of the application of both quantitative methods.
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References6
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Number of times cited according to Crossref: 1
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