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A necessary risk with benefits that outweigh the costs.

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Owen Kris

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3y ago

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What type of risk is acceptable in the ORM process?

A necessary risk with benefits that outweigh the costs.


What type or risks is acceptable in the ORM process?

A necessary risk with benefits that outweigh the costs.


What is the definition of Operational Risk Management (ORM)?

The process of dealing with risk assoceiated within military operations, which includes risk assessment, risk decision making and implementation of effective risk controls


What is ORM TRACS?

A web-based tool for producing ORM assessments.


What is the first step of the Coast Guards Operational Risk Management ORM process?

The first step of the Coast Guard's Operational Risk Management (ORM) process is to identify hazards. This involves recognizing potential risks that could adversely affect operations or personnel. By systematically identifying these hazards, the Coast Guard can assess and mitigate risks effectively in subsequent steps of the ORM process.


What are the fourth and fifth steps of the ORM process?

Make risk control decisions and implement control measures


What are the fourth and fifth processes of the orm process?

Make risk control decisions and implement control measures


PEACE is a pneumonic associated with which step in the Coast Guards Operational Risk Management (ORM) process?

sdafsdf


Navy ORM is a step process applied using?

Navy Operational Risk Management (ORM) is a systematic approach used to identify, assess, and mitigate risks in naval operations. It is applied through a five-step process: identifying hazards, assessing risks, analyzing risk control measures, making risk decisions, and implementing controls. This process helps ensure safety and effectiveness in mission planning and execution by promoting informed decision-making. ORM is integral to fostering a culture of safety within the Navy.


Which is one of the four principles of ORM?

Develop an implementation plan for risk control measures.


Which level of ORM applies all five steps of the ORM process?

deliberate


Do you have the answers to ORM University?

Even high-risk endeavors may be undertaken when there is a clear knowledge that the sum of the benefits exceeds the sum of the costs. ORM is about controlling risk, not avoiding all risk.