What are the three components of risk assessment commonly used in DHS planning?

• A. Risk avoidance, risk transfer, and risk elimination.
• B. Hazard identification, vulnerability assessment, and consequence/impact analysis.
• C. Threat assessment, financial risk, and legal risk.
• D. Vulnerability testing, budget risk, and public opinion.

Answer: (B)

In DHS planning, risk assessment is about understanding what could happen, how exposed we are, and what the consequences would be. Start with hazard identification: identifying potential threats or hazards—natural, technological, or human-caused—that could affect operations or assets. Then assess vulnerability: looking at weaknesses in people, systems, and infrastructure that could let those hazards cause harm. Finally, analyze consequences or impacts: estimating the potential effects on life safety, property, mission continuity, and essential services. This combination lets planners gauge risk levels and prioritize mitigation efforts.

Other options describe actions you might take to manage risk (like avoiding, transferring, or eliminating it) or mix different risk categories that aren’t the standard components of the DHS risk assessment. So the best fit is identifying hazards, evaluating vulnerabilities, and analyzing consequences.