The beginning of the Twentieth Century brought with it high industrialism and new-found wealth that allowed a profound sense of comfort that was short lived due to the uncertainty caused by World War I. This uncertainty created the need to accurately evaluate “the value of individual dignity and freedom, about the proper organization of society, and ultimately about the possibility of human perfection.”Lagerfield (1999). Due to the uncertainty that was created, Lagerfield felt personal acquisition of wealth and comfort were not the keys that lead to taking a more realistic view of the future, but the ideology of risk management brought about the need to forgo the frivolous waste of resources. The evolution of risk management in its infancy stages derived from the environmental shift that occurred in response to those catastrophic events such as the Great Depression, Three Mile Island, and the devastation of technological failure noted during the launch and disintegration of the Challenger to name a few. Although the ladder that lead to a full paradigm shift in the way in which cause and effect were viewed; the need to gain a better understanding of appropriately managing risk became paramount. Dun and Renner (2008) believed “the strategies to manage risk typically include transferring the risk to another party, avoiding the risk, reducing the negative effect or probability of the risk, or even accepting some or all of the potential or actual consequences of a particular risk.” Prior to the 20th Centuries focus on identifying cause and effect of historically devastating events, the status quo of uncertainty remained. The most noted events of the 20th century that lead to the need for assessing, identifying, and prioritizing risk, allowed organizations to formulate guidelines and/or procedures to identify the root cause and adjust their practices in