COST & its role in building robust Security

Physical security, while having a longer history than cyber security, is even more important today. Determining to what extent an asset will be protected is the first and most important step of building a physical security system, and it directly affects the second greatest concern, cost.

Security cost / investments can have two kinds of payoffs: an improved security picture and an improved financial picture. Security Managers / Heads of Security are used to making the case for improved security, but are not so experienced with showing how security improvements can contribute to a company's profitability.

With every organization’s vulnerability to varied threats, regardless of what they're protecting, they obviously don't want to be the softest target. But the other side of the coin is that being the hardest target doesn't always make for an easy road either.

They might want to be the hardest target, but there's going to be a cost associated with that.

So as a Security department / leader when dealing with a budget, they should perform a thorough assessment of their risks and whether or not they're really all that great. From there, they can determine what their potential losses are and what their level of protection should be.

 A meticulous ‘risk assessment’ helps the security manager grasp the overall problem, while understanding the value of assets and impact of failure helps the planner rank different security concerns to ensure focus on the most important, more critical ones before addressing ones that are less critical. It also helps the planner to determine if it is worth spending $100 million protecting an asset with only $5 million worth of property.

Cost is the bottom line for many organizations and Heads of Security, but focusing on cost alone can be a seductive trap to trust. Cost has many different definitions depending on the person who looks at it – the cost to equip and install the system, the cost to train and operate, the cost of quality, the cost and potential ramifications of failure, and so on.

Like how saving cost is a number-one concern when building a security system, blaming cost is a number-one accusation when a security system fails. So, it is critical to define requirements specifically and control costs wisely so that Security managers who are constrained by a limited budget, can prioritize and protect spending on the most important aspects of the system.

Many decision makers are involved in the process of determining how important something is in terms of security. Ultimately, designing a security system involves a calculated gamble. How much are you willing risk in order to protect something?

Author: John Paul Manickam, a gold medallist in Criminology & Criminal Justice Science with over 10 yrs of diversified work experience as a Security Professional & consultant in hospitality, IT and Private Security sectors in Chennai. A passionate trainer in the field of Life Safety, Fire Safety, Security & Risk assessment, has trained over 5000 personnel in life saving skills. John is currently with FLSmidth as Travel Security Advisor for India and is part of the vibrant group of Security Managers in Chennai.