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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 .. 8 Risk Assessment Matrix .. 8 Risk Assessment Tool .. 13 Step 3: Make Risk Decisions .. 15 Identifying Risk Management Strategies .. 15 Evaluate Risk vs. Gain .. 16 Risk Decision Authority Chart .. 17 Step 4: Implement Controls.

Feb 26, 2020 · achieved by the identification of opportunities and threats and the allocation and use of resources to increase the odds of success, avoid hazards, minimize consequences and provide for recovery. Risk management seeks to reduce risks to acceptable levels. In most endeavors, we will not be able to reduce risk to zero.

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