What is the final step in the ORM process?

The final step in the Operational Risk Management (ORM) process is supervising. This step involves monitoring the effectiveness of the risk control measures that have been implemented. Once hazards have been identified, assessed, and mitigated, it is essential to ensure that the measures put in place are being followed and that they are effective in reducing risk. Supervision allows for real-time feedback and adjustments if necessary, ensuring that risks remain managed throughout the operation.

In the ORM process, the steps taken before supervision include identifying hazards, assessing risks, and implementing controls. Each of these earlier steps feeds into the supervision phase, where the focus shifts to observing and managing the ongoing implementation of safety practices and adjustments based on observed outcomes. This continual cycle is critical for maintaining safety and effectiveness in operations.