Operational Risk Management
Not to be confused with Safety Management Systems (SMS), Operational Risk Management (ORM) is a Risk Management philosophy used in mission critical environments. The United States military services utilize ORM. ORM revolves around a simple five-step process that is most frequently used in planning. These five steps are:
- Identify hazards
- Assess the hazards
- Make risk decisions
- Implement controls
- Supervise and watch for change
Here is a link to a U.S. Navy website that leads to significant ORM resources: www.safetycenter.navy.mil. Click on “ORM” on the top banner.
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