Risk Management Essay

544 words - 3 pages

Ms. Francis
CJ261
April 13, 2011
Risk Management
An asset is defined as “a useful or valuable quality, person, or thing.” An asset is also defined as “All properties, such as cash or stock that may cover the liabilities of a person or business.” Assets can also be defined as “people, equipment, property, business information, and professional reputation.” In this assessment the term people would include employees, visitors, and students. The equipment and property would include buildings, computers, books and all support equipment like televisions and video equipment. Student and employee information is the core of its business operation. What would happen if information from our students or employees is destroyed, tampered with, or even given to a third ...view middle of the document...

Our computer equipment is inventoried by Teah Johnson every six months and the book are inventoried by Venus Jackson every quarter. The threats to our assets can come by way of a burglary, fire, or even natural disasters. By having a Security Guard on site, during the night, we can control or prevent burglaries, and even a fire. The probability of someone breaking into the building is real good especially if the building is not protected by either having a Security Guard on duty at night or at the very least having an alarm system that goes directly to the local police department. If such an event does occur then ITT Tech would have both a legal and fiscal liability and if the building did get burglarized and the computer, televisions, monitors or video equipment did get stolen chances are this would be covered by insurance. In the event that this did happen or even the event of a natural disaster of a tornado destroying the building then we would need to have a backup plan in place to cover and “include replacement costs, downtime, borrowing cash on a temporary basis, and even having a backup site” in which to resume classes.
ITT Tech’s reputation is what keeps the students coming to this school. If the reputation of the school is effected it is hard to get this back. It takes a long time to get a good reputation but only a short time to loose it. It would be to our best interest to have a plan of action for each scenario that could possibly happen in this school. What would we do if someone walked through the front door and started shooting and killing everyone they saw? Do we have a plan for this? If not then we should get one together.

Work Cited
Curtis, George E., and R. Bruce McBride, Proactive Security Administration. New Jersey: Upper Saddle River, 2005.

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