Book excerpt: From the terrorist attacks of 9/11, to Hurricane Katrina, homeland security risks vary widely. Managing these risks is especially difficult in today¿s environment of globalization, increasing security interdependence, and growing fiscal challenges for the fed. gov¿t. A forum of 25 experts was convened on Oct. 25, 2007, to advance a nat. dialogue on applying risk mgmt. to homeland security. Participants included fed., state, and local officials and risk mgt. experts from the private sector and academia. They identified: (1) what they considered to be effective risk mgmt. practices used by org. from the private and public sectors; and (2) key challenges to applying risk mgmt. to homeland security and actions that could be taken to address them. Illustrations.