Aviation Security: Federal Action Needed to Strengthen Domestic Air Cargo Security, Report to Congressional Requesters [open pdf - 1MB]
From the Document: "TSA has taken initial steps toward applying a risk-based management approach to address air cargo security. A risk-based management approach entails a continuous process of managing risk through a series of actions, including setting strategic goals and objectives and assessing risk through the identification and evaluation of threats, vulnerabilities, and critical assets. In November 2003, TSA completed an air cargo strategic plan that outlined a threat-based, risk management approach to secure the air cargo system by, among other things, targeting elevated risk cargo for inspection. TSA also completed an updated threat assessment in April 2005. However, TSA has not yet established a methodology and schedule for completing assessments of air cargo vulnerabilities and critical assets- two crucial elements of a risk-based management approach without which TSA may not be able to appropriately focus its resources on the most critical security needs."
Government Accountability Office (GAO): http://www.gao.gov/