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ORM (Operational Risk Management) - Correct Answers
✅Decision making tool used by personnel at all levels to
increase effectiveness by identifying and managing risks
Three levels of ORM - Correct Answers ✅1. Time Critical
2. Deliberate
3. In Depth
5 steps of ORM - Correct Answers ✅1. Identify hazards
2. Assess hazards
3. Make risk decisions
4. Implement controls
5. Supervise
suitability - Correct Answers ✅Control removes the threat
or mitigates (reduces) the risk to an acceptable level
feasibility - Correct Answers ✅Has the capability to
implement the control
Acceptability - Correct Answers ✅Benefit or value gained
by implementing the control justifies the cost in resources
and time
, Ecs week 1 Latest Exam Questions and
Answers with Rationales, A+ Guarantee 2026
Explicitness - Correct Answers ✅Clearly specifies who,
what, when, where, why, and how each control is to be used
support - Correct Answers ✅Adequate personnel,
equipment, supplies, and facilities necessary to implement a
suitable control are available
Standards - Correct Answers ✅Guidance and procedures
for implementing a control are clear, and specific
Training - Correct Answers ✅Knowledge and skills are
adequate to implement a control
individual - Correct Answers ✅Individual personnel are
sufficiently self-disciplined to implement control
Types of Control - Correct Answers ✅Engineering controls
Administrative controls
Physical controls
Engineering controls - Correct Answers ✅Controls that
used engineering methods to eliminate or reduce risks by
design, material selection, or substitution when technically or
economically feasible