What are the three main areas of focus in ORM?

The three main areas of focus in Operational Risk Management (ORM) are centered around hazards, risk assessment, and control measures. This approach is essential for identifying potential hazards that could impact operational success. By evaluating these hazards, organizations can assess the level of risk they pose, which involves understanding the likelihood of occurrence and the severity of consequences.

Once risks are assessed, the next critical step involves implementing control measures designed to mitigate or eliminate those risks. Control measures may include engineering solutions, administrative procedures, or personal protective equipment. This structured methodology ensures that organizational activities proceed with reduced uncertainty and enhanced safety, enabling better decision-making in operational contexts.

Focusing on these areas helps create a proactive culture around risk management, allowing for informed planning and execution of missions while safeguarding personnel and resources.