Intelligence and Risk Management
9 Pages Posted: 21 Dec 2008 Last revised: 7 Jan 2009
Date Written: December 10, 2008
This paper summarizes a two-year project working with risk management specialists in finance, health care, political risk, engineering, and other fields to understand how risk management applies to intelligence and international security affairs. It distinguishes between two broad approaches for risk management implementation in complex organizations (large companies, the U.S. intelligence community). Tactical approaches focus on particular models (VaR, option theory, fault trees, etc.) while strategic approaches take an enlarged view of key managerial and contextual factors which shape the actual use of risk management. As environments become more turbulent, managers should focus far more on these strategic, rather than tactical approaches to managing risk.
Keywords: risk management, integrated risk management, political risk, competitive intelligence
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