CTM Module 1 (Mod 1) – Study Guide, Key Concepts & Exam Preparation
Operational Risk Management (ORM) - ANS ✔✔A decision-making process to systematically
evaluate possible courses of action, identify risks and benefits, and determine the best course of
action for any given situation.
Safety and Occupational Health Program - ANS ✔✔Protect personnel and property.
Operational Safety - ANS ✔✔Program that includes explosive safety, nuclear safety, aviation
safety, acquisition and system safety, traffic safety and off-duty safety.
Safety Management System (SMS) - ANS ✔✔(Safety Inspection) The formal, top-down,
organization-wide approach to managing safety risk and assuring the effectiveness of safety risk
controls. It includes systematic procedures, practices, and policies for the management of safety
risk.
OSHA (Occupational Safety and Health Administration) - ANS ✔✔Inspects and evaluates; risk
management; program assessment; and programmatic improvements.
Hazard - ANS ✔✔A condition with the potential to cause personal injury or death, property
damage or mission degradation.
Risk - ANS ✔✔Probability and severity of loss linked to HAZARD. Risk level is expressed in terms
of hazard probability and severity.
Risk Assessment - ANS ✔✔A structured process to identify and assess hazards. An expression of
potential harm, described in terms of hazard severity, accident probability, and exposure to
hazards.
, Probability - ANS ✔✔likelihood that a particular event will occur
Severity - ANS ✔✔strictness, sternness, harshness
4 Basic Principles of Risk Management (RM) - ANS ✔✔1) Accept risk when benefits outweigh
the cost.
2) Accept no unnecessary risk.
3) Anticipate and manage risk by planning.
4) Make risk decisions at the right level.
ORM 5 Step Process "I AM I S" - ANS ✔✔1. Identify hazards
2. Assess hazards
3. Make risk decisions
4. Implement controls
5. Supervise
ORM Process Levels - ANS ✔✔A) Time-Critical- Choosing appropriate course of action when an
unplanned event occurs.
B) Deliberate- Planning upcoming operations; reviewing standards operating, maintenance, or
training procedures; and planning damage control or disaster response.
C) In-Depth- Thorough Risk Assessment-Research, analysis, testing, and hazard tracking.
Hazardous Material (HAZMAT) - ANS ✔✔Material that may cause harm to human health or the
environment during use, handling storage, transportation, or spill.
Personal Protective Equipment (PPE) - ANS ✔✔Protective equipment that blocks exposure to a
pathogen or a hazardous material.
Operational Risk Management (ORM) - ANS ✔✔A decision-making process to systematically
evaluate possible courses of action, identify risks and benefits, and determine the best course of
action for any given situation.
Safety and Occupational Health Program - ANS ✔✔Protect personnel and property.
Operational Safety - ANS ✔✔Program that includes explosive safety, nuclear safety, aviation
safety, acquisition and system safety, traffic safety and off-duty safety.
Safety Management System (SMS) - ANS ✔✔(Safety Inspection) The formal, top-down,
organization-wide approach to managing safety risk and assuring the effectiveness of safety risk
controls. It includes systematic procedures, practices, and policies for the management of safety
risk.
OSHA (Occupational Safety and Health Administration) - ANS ✔✔Inspects and evaluates; risk
management; program assessment; and programmatic improvements.
Hazard - ANS ✔✔A condition with the potential to cause personal injury or death, property
damage or mission degradation.
Risk - ANS ✔✔Probability and severity of loss linked to HAZARD. Risk level is expressed in terms
of hazard probability and severity.
Risk Assessment - ANS ✔✔A structured process to identify and assess hazards. An expression of
potential harm, described in terms of hazard severity, accident probability, and exposure to
hazards.
, Probability - ANS ✔✔likelihood that a particular event will occur
Severity - ANS ✔✔strictness, sternness, harshness
4 Basic Principles of Risk Management (RM) - ANS ✔✔1) Accept risk when benefits outweigh
the cost.
2) Accept no unnecessary risk.
3) Anticipate and manage risk by planning.
4) Make risk decisions at the right level.
ORM 5 Step Process "I AM I S" - ANS ✔✔1. Identify hazards
2. Assess hazards
3. Make risk decisions
4. Implement controls
5. Supervise
ORM Process Levels - ANS ✔✔A) Time-Critical- Choosing appropriate course of action when an
unplanned event occurs.
B) Deliberate- Planning upcoming operations; reviewing standards operating, maintenance, or
training procedures; and planning damage control or disaster response.
C) In-Depth- Thorough Risk Assessment-Research, analysis, testing, and hazard tracking.
Hazardous Material (HAZMAT) - ANS ✔✔Material that may cause harm to human health or the
environment during use, handling storage, transportation, or spill.
Personal Protective Equipment (PPE) - ANS ✔✔Protective equipment that blocks exposure to a
pathogen or a hazardous material.
