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Which of the following is the third step of the ORM process? Implement controls Develop controls and make risk decisions Execution Make reconnaissance

Question

Which of the following is the third step of the ORM process? Implement controls Develop controls and make risk decisions Execution Make reconnaissance

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Solution

The third step of the ORM (Operational Risk Management) process is "Develop controls and make risk decisions".

Here are the steps for clarity:

  1. Identify hazards.
  2. Assess hazards to determine risks.
  3. Develop controls and make risk decisions.
  4. Implement controls.
  5. Supervise and evaluate.

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