Physical security and risk management when supported by proper policies, procedures and strategies is a business enabler.
This is not.
First and foremost know what you want to protect, know how you want to protect it, know what or who you want to protect it from and know when it is the right time to up or down grade that protection.
This traffic bollard does not need this pad lock. That’s like protecting a broken arm with a band-aid.
If you don’t know or unsure, ask. Never hurts to ask a professional you may be over complicating or underestimating the situation.