Which of the following is a core step in the ORM process?

Making risk decisions is a core step in the Operational Risk Management (ORM) process because it involves assessing various risks and determining the best course of action to mitigate them. This step requires a thorough understanding of the potential hazards and their impact on the operation. Effective risk decision-making is crucial to ensure the safety of personnel, the protection of assets, and the success of operations. It engages relevant stakeholders to evaluate risk tolerances and make informed choices about which risks are acceptable, which ones require mitigation strategies, and how to allocate resources accordingly. This decision-making process is integral to enhancing overall operational effectiveness and safety within the organization.