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Operational Risk Management Guide - USDA

Operational RISK Management Guide DEPARTMENT OF AGRICULTURE FOREST SERVICE 2020 Last Updated 02/26/2020 RISK Management COUNCIL IN COOPERATION WITH THE OFFICE OF SAFETY & OCCUPATIONAL HEALTH and THE NATIONAL AVIATION SAFETY COUNCIL Contents Contents .. 2 Executive Summary .. i Introduction .. 1 What is Operational Risk Management ? .. 1 The Terminology of ORM .. 1 Principles of ORM Application .. 6 The Five-Step ORM Process .. 7 Step 1: Identify Hazards .. 7 Step 2: Assess Hazards.

Feb 26, 2020 · Risk that has not been identified but has some effect on the likelihood of achieving our objective. Some risk is not identifiable or measurable but is no less important. • Total risk: Total risk is the combination of both identified and unidentified risk. Ideally, identified risk will comprise the much larger proportion. • Residual risk:

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