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What does ORM stand for ? correct answersOperational Risk Management Define ORM correct answersA risk mitigation tool used by people at all levels to increase operational effectiveness and reduce the potential for loss. What is the five step process of ORM ? correct answersIdentify Hazards Assess Hazards Make Risk Decisions Implement Controls Supervise List the 4 principles of ORM ? correct answersAccept risk when benefit outweighs the cost Accept no unnecessary risk Anticipate and manage risks by planning Make risk decisions at right level
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