Which of the following is included in the ORM process?

The ORM (Operational Risk Management) process is a systematic approach used to identify, assess, and control risks associated with operational activities. It comprises several key components that work together to ensure effective risk management.

Including implementation, evaluation, and assessment as part of the ORM process highlights its comprehensive nature. Implementation refers to the execution of the identified controls or measures to mitigate risks. Evaluation involves examining the effectiveness of these measures and determining whether the desired outcomes are achieved. Assessment is the ongoing process of identifying risks, which plays a critical role in shaping the strategies to manage those risks.

Together, these components ensure that the ORM process is thorough and adaptive, allowing for continuous improvement in risk management practices and enhancing overall safety and effectiveness in operations. This integration showcases the importance of considering all aspects of risk management in a cohesive way, making the choice encompassing all these elements the most accurate.