This is the first book to introduce the full spectrum of security and risks and their management. Author and field expert Bruce Newsome helps readers learn how to understand, analyze, assess, control, and generally manage security and risks from the personal to the operational. They will develop the practical knowledge and skills they need, including analytical skills, basic mathematical methods for calculating risk in different ways, and more artistic skills in making judgments and decisions about which risks to control and how to control them.
Chapter 7: Events and Returns
Events and Returns
This chapter defines returns (one of the two main concepts that make up a risk), events, issues, and incidents, explains how events are assessed, shows how returns are categorized, and gives practical advice on how to assess returns.
The returns of an event are the changes experienced by an affected entity. The returns are experienced by or affect the holders of the risk or those exposed to the risk, such as investors or victims.
The term returns, as used in this book, includes many other concepts, such as effects, outputs, outcomes, costs, losses, profits, gains, benefits, consequences (the U.S. government's favorite), or impacts (the British government's favorite). These other terms are inconsistently used and defined. For instance, the Canadian government ...