What is a key element in the implementation of ORM?

The correct choice highlights that risk assessment and mitigation are fundamental to the implementation of Operational Risk Management (ORM). ORM is a systematic process that allows organizations to identify potential hazards and assess their associated risks. Through risk assessment, personnel can determine the likelihood of adverse events and the severity of potential consequences. This enables them to develop strategies to mitigate these risks effectively.

Mitigation strategies may include implementing safety controls, developing emergency procedures, and fostering a culture of safety awareness among all personnel. This iterative process allows for continuous monitoring and adjustment, ensuring that risks remain manageable as operations and environments change. In essence, prioritizing risk assessment and mitigation facilitates safer operations, ultimately enhancing mission success while protecting personnel and assets.