Which ORM step involves evaluating the risks associated with identified hazards?

Which ORM step involves evaluating the risks associated with identified hazards?

• A. Identify hazards
• B. Plan
• C. Execute decision
• D. Assess Risks

Answer: (D)

In ORM, once hazards are identified, the next essential task is to evaluate how serious each hazard is by looking at both how likely it is to occur and how severe the impact would be. This risk assessment assigns a risk level to each hazard, helping you prioritize which hazards need controls and what level of mitigation is necessary. This step provides the basis for making informed risk decisions and selecting appropriate controls before moving forward with the plan and implementation. Identifying hazards is about discovery of potential problems; planning and executing decisions come after you’ve assessed risks and decided on controls.

In ORM, once hazards are identified, the next essential task is to evaluate how serious each hazard is by looking at both how likely it is to occur and how severe the impact would be. This risk assessment assigns a risk level to each hazard, helping you prioritize which hazards need controls and what level of mitigation is necessary. This step provides the basis for making informed risk decisions and selecting appropriate controls before moving forward with the plan and implementation.

Identifying hazards is about discovery of potential problems; planning and executing decisions come after you’ve assessed risks and decided on controls.