Security: The Key to Return on Investment
By Edward Dublois Principal Consultant, Dublois & Associates | December 11, 2011
There has never been a time more significant than the past 10 years that has caused many hotel and lodging professionals to move security up the line in terms of importance and criticality. Across the nation, substantial dollars are being spent to establish, upgrade or enhance security in a wide range of applications. Often these increased measures of security cameras, restricted access control, employee training, panic systems, covert surveillance and overall awareness incrementally decrease the risk and threat levels of a lodging or resort property.
However, is there a possibility that these efforts can be further improved upon to deliver a greater return on investment? Can the benefit cost ratio be improved upon to the extent that the security plan can be self amortizing?
Typically an approach to remedy a potential or existing security breech, threat or risk, is performed by applying a reasonable and rationalized electronic security solution. This can be accomplished through the use of security surveillance cameras, access control systems, communication systems, and other types of alarm, detection and security devices. Sometimes this effort is a knee jerk reactionary achievement and other times it is a scheduled and budgeted event. At the same time, much too often, a broad stroke approach is utilized to accomplish these goals.
This occurrence often results in a host of issues that can plague the property or system operator. Sometimes the system is under utilized; at other times it may be over built. Then there is the all too familiar project that has gone over budget or maybe the entire effort yields a system that wasn't entirely necessary in the first place. While the efforts were well intentioned, the net results often fall short of reaching the goals of efficiency, effectiveness and desired return on investment.
A thorough and comprehensive security Risk and Threat Assessment (RTA) performed in advance of any calculated security solution pays dividends into a security budget and operating plan. The RTA should be considered the blueprint and first step in the mission critical plan for any evolving or existing security effort. A decision to implement an RTA is the important process that merges the components of return on investment (ROI) with the effectiveness and efficiency of a properly executed security plan.
Who needs a Risk & Threat Assessment?
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