Decision Making and Risk Understanding risk is important in logistics management
Decision Making and Risk
Understanding risk is important in logistics management
Decision Making and Risk
Understanding risk is important in logistics management. If taken into account, risk can be mitigated therefore leading to improved success in each of the phases (preparedness, response, and recovery). Risk can be assessed at in many different ways depending on the application. For example, the Federal Emergency Management Agency (FEMA) would apply risk assessment in a different way than an insurance company.
Understanding the terminology surrounding risk is important to understand such as the differences and similarities of risk, uncertainty, and threats. FEMA provides guidance in how to approach a risk assessment. The FEMA approach looks first at identifying potential hazards and analyze what could happen that would result in an impact analysis. Once impacts are identified, then strategies can be developed to mitigate the impacts.
An example of a risk management process diagram includes consideration of hazards, assets at risk and impacts.
In the case provided, read Keeley, J. E., Safford, H., Fotheringham, C. J., Franklin, J., & Moritz, M. (2009). The 2007 Southern California wildfires: Lessons in complexity. Journal of Forestry, 107(6), 287-296. Retrieved from https://academic.oup.com/jof/article/107/6/287/4598876
Case Assignment
Generally discuss the difference between uncertainty and risk.
List and explain in order of importance 10 threats or hazards to disaster logistics management.
Develop or discuss a risk assessment process diagram similar to above for logistics that adds to the threats the assets at risk and the different types of impacts. Explain your reasoning.
Properly cite your quotations that you use to support your statements. Use in-text references as needed to support your points.
Assignment Expectations
Length: This Case Assignment should be 3-5 pages, not counting the title page and references.
References: At least two references should be included from academic sources (e.g., peer-reviewed journal articles). Required readings are included. Quoted material should not exceed 10% of the total paper (since the focus of these assignments is critical thinking). Use your own words and build on the ideas of others. When material is copied verbatim from external sources, it MUST be enclosed in quotes. The references should be cited within the text and listed at the end of the assignment in the References section (preferably in APA format).
Organization: Subheadings should be used to organize your paper according to question.
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