Operational Risk Management Outside Banking
Search for operational risk management and banking results tend to dominate. In oil and gas, mining and utilities, operational risk is physical: a dropped load, a loss of containment, a missed isolation step. The five-step process based on U.S. Navy operational risk management practice (identify hazards, assess them, make risk decisions, implement controls, supervise) translates well to industrial work. This piece on ORM for high-risk operations explains why risk decisions need to be made at the right level.
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