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3 Cards in this Set
- Front
- Back
ORM Hazard
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Condition with potential to cause personal injury or death, property damage or mission degradation.
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ORM Risk
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Expression of possible loss in terms of severity and probability.
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ORM 4 principles
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1. Accept risk when benefits outweigh the cost.
2. Accept no unnecessary risk. 3. Anticipate and manage risk by planning. 4. Make risk decisions at the right level. |