Which of the following is a key benefit of ORM?

The key benefit of Operational Risk Management (ORM) is the enhancement of safety culture and the reduction of mishaps. ORM provides a structured approach to identifying, assessing, and managing risks that could potentially lead to accidents or incidents. By fostering a culture that prioritizes safety, organizations encourage individuals to be proactive in recognizing hazards, which leads to better decision-making and ultimately a significant decrease in the likelihood of operational mishaps.

This integration of ORM into daily operations allows teams to effectively communicate about risks and engage in continuous improvement practices. Additionally, when safety becomes a shared value within an organization, it can lead to increased morale and worker engagement, further supporting safe practices in all operations. Therefore, the emphasis on creating a safety culture is a crucial advantage of implementing ORM processes.