How many basic actions are there which ultimately lead to making informed risk decisions?

The correct answer is three, which reflects the fundamental framework used in risk management processes. These three basic actions are essential steps that lead to informed risk decisions:

1. Identifying hazards: This involves recognizing potential risks that could negatively impact operations. It sets the foundation for understanding what specific issues need to be addressed.

2. Assessing risks: This action involves evaluating the extent of the identified risks, looking at the likelihood of occurrence and the potential impact if those risks were to happen. This step is crucial for determining which hazards are of the highest concern.

3. Making decisions: Based on the assessment of risks, this step involves determining appropriate actions to mitigate or manage the identified risks. It is about selecting the best courses of action that balance risk with operational requirements.

These three actions work synergistically to ensure that decisions made surrounding risk are informed, measured, and appropriate to the context of the situation. This structured approach is integral to effective operational risk management within the Navy, fostering an environment where safety and mission success can coexist.