Page 51: of Maritime Logistics Professional Magazine (Q4 2013)

cost-beneÞ t tables to present decision makers with actionable intelligence. Using this tool, reports can be produced that pro-vide executives with speciÞ c information related to things like critical detection points, probability of interdiction success, total cost of ownership, and overall system effectiveness. ?Optimize? is the phase of the process where decision sup-port tools can truly provide a real return on in vestment. Since the best decision support tools are designed to present execu- tives with meaningful decision points, the emphasis should be on quality and validity of the output, not necessarily quantity. AVERT, for example, generates extremely accurate metrics, reports, and visualizations that are derived from a security li- brary that has been accredited by the U.S. Department of De-fense for assessment of nuclear storage facilities. In order to ensure that decisions are made that support se-curity optimization, executives must have access to accurate information. Expected results of speciÞ c risk mitigation initia- tives, as well as the associated cost of those upgrades, are both important metrics to be considered. Maritime professionals that have the ability to accurately and efÞ ciently prioritize risk mitigation options, using expected performance and cost data, have a true advantage in the market place. Show me the Money Business leaders with risk management responsibility need a tool that can help validate the ef fectiveness of a proposed security solution, before you actually invest in that solution. That tool should provide a way to rapidly conduct Òwhat ifÓ analysis related to the various threat proÞ les that your busi- ness is exposed to. That same tool should facilitate the clear communication of the value proposition associated with a spe- ciÞ c planned maritime risk management initiative. If you and your team are not so equipped, then it may be time to investi- gate decision support tools.The AVERT tool, used as an effective decision support sys- tem, has paid for itself many times over in some recent imple- mentations. A U.S. Government agency used this tool to evalu- ate a planned security upgrade that was budgeted for, but not yet procured. The analysis showed that this planned investment would not actually have resulted in any substantive increase in overall security effectiveness at the facility. The investment was cancelled, and AVERT was credited with total cost avoid- ance of $5 million. Similarly, a major U.S. port recently used AVERT to validate the design basis of a planned security up- grade, eventually resulting in a successful maritime security grant award of $5.5 million. Separately, a private power gener- ation Þ rm recently used the AVERT tool to reduce their annual security assessment budget by as much as 30 percent. Marathon, Not a SprintThreats to businesses in the maritime domain are increas- ing, and at an alarming rate. Consequently, the costs associated with security and risk management also continue to increase. It has become more difÞ cult than ever for maritime professionals to optimize security posture, and ensure business continuity. Every successful company employs practical management systems as the foundation for managing critical business func- tions Ð risk management should not be an exception. Decision support tools have been used to support Þ nancial management functions in business for decades. Once they are incorporated into a Þ rmÕs standard management approach, decision support systems can become a trusted and reliable asset. Where risk management is concerned, this is deÞ nitely the case. As oper- ating conditions and threat proÞ les change, these tools can be used, over and over, or even on a continual basis, to compare variables, evaluate options, and work through to a Òbest-Þ tÓ answer, leaving nothing to chance. Decision support tools provide a proven method to continually assess risk, analyze mitigation strategies, manage security budgets, and optimize security posture based on predicted effectiveness. In todayÕs global maritime domain, where all-hazards risks are persistent and pervasive, and can cause immediate and dev- astating impacts if improperly addressed, effective risk man- agement must be designated as a core business function. By using decision support tools to systematically invest in risk mit- igation initiatives, maritime professionals have an opportunity to pursue return on investment, and create value for their Þ rms. www.arescorporation.com/security/products/avert/ When executive decision makers focus on risk management, it is not uncommon to Þ nd that a companyÕs exposure to risk is not aligned with the actual policies, plans and procedures in place for risk mitigation. This is where decision support tools can play an important role. When executives have access to intuitive, easy to use software tools that manage and manip- ulate data, they can expose gaps, establish focus points for minimizing their Þ rmÕs exposure, and pursue risk management strategy options that emphasize security optimization. www.maritimeprofessional.com | Maritime Professional | 51MP #4 50-63.indd 51MP #4 50-63.indd 5112/11/2013 2:06:28 PM12/11/2013 2:06:28 PM