Risk-Based Cost Assessment of Maritime and Port Security

摘要

The events and aftermaths of 11 September 2001 have not only fostered further dimensions to maritime and port security but also triggered a fundamental shift in the way security and regulatory instruments are managed and implemented. However, little work has been undertaken on the prevalent issues of the security of port and maritime operations especially in areas such as risk assessment models and the analysis of operational costs. By providing a blend of theoretical and practical insight, this paper examines the issues of risk based models and procedural costs in the context of maritime and port security and seeks to address the limitations of the current framework in providing an integrated and effective approach to risk and cost assessment, including for supply chain security. The paper introduces a generic framework which allows shipping companies to assess investment and return from existing and future security initiatives and regulations.