In ORM, what does 'controllable risk' refer to?

The term 'controllable risk' in the context of Operational Risk Management (ORM) specifically refers to risks that can be effectively managed through established processes, procedures, and controls. These risks are associated with situations where organizations have the ability to influence the outcome through their actions, thus reducing the potential negative impacts on mission objectives.

By identifying controllable risks, organizations can implement measures such as training, safety protocols, and resource allocation to minimize the likelihood of adverse events occurring or to mitigate their effects. This proactive approach ensures that risks are addressed in a structured manner, allowing for better decision-making and planning.

Other options do not accurately represent the concept of controllable risk. For instance, risks that can be ignored without consequences are ultimately unsafe to overlook and do not reflect the principles of ORM, which emphasizes the importance of awareness and management. Similarly, while enhancing risks for mission success may be relevant in strategic planning, it does not align with the notion of control in risk management. Finally, risks that are deemed unlikely to affect mission outcomes may not necessarily be controllable; they might still require monitoring or management to ensure unforeseen consequences do not arise.