What is the final step in the ORM (Operational Risk Management) process?

The final step in the Operational Risk Management (ORM) process is supervision. This stage involves monitoring and ensuring that the implemented controls are operating effectively and that hazards are continuously managed. Supervising also includes overseeing personnel to ensure compliance with safety standards and operational protocols.

In the ORM process, supervision is critical because it helps identify any emerging hazards that may not have been initially recognized and allows for the adjustment of controls as necessary. By supervising effectively, leaders can foster a culture of safety and accountability which is vital in operational environments. This ensures that risk management is not just an initial step but an ongoing commitment to maintaining a safe and efficient operation.