How many steps are there in the ORM process?

The correct answer is that there are five steps in the Operational Risk Management (ORM) process. This framework is designed to help individuals and organizations identify hazards, assess risks, and implement controls to minimize unintended consequences.

The ORM process consists of these five steps:

1. Identify hazards: This involves recognizing potential risks that could adversely affect mission success or safety. It ensures that all possible threats are considered before proceeding with any operations.

2. Assess hazards: Once hazards are identified, the next step is to analyze the potential impact these hazards could have, usually by evaluating both the likelihood of occurrence and the severity of the consequences.

3. Make risk decisions: After assessing the hazards, decision-makers must weigh the risks against the benefits of the course of action. This step involves determining what level of risk is acceptable and deciding whether to proceed, mitigate, or eliminate the risks.

4. Implement controls: This step involves putting measures in place to either eliminate or reduce the identified risks to an acceptable level. This can include training, equipment upgrades, and changes in procedures.

5. Supervise and review: In the final step, ongoing monitoring and assessment of the risks and controls occur. This ensures that the controls are