CC BLOCK 4

Question 1

What are the 5 steps of ORM?

Answer 1

• Identify Hazard
• Assess Hazards
• Make Risk Decisions
• Implement Controls
• Supervise

These steps are essential for effective operational risk management.

Question 2

What are the 4 principles of ORM?

Answer 2

• Accept risks when benefits outweigh the cost
• Accept no unnecessary risk
• Anticipate and manage risk by planning
• Make risk decisions at the right level

These principles guide decision-making in risk management.

Question 3

What are the 3 levels of ORM?

Answer 3

• In depth
• Deliberate
• Time Critical

These levels indicate the depth of analysis required for risk management.

Question 4

What is a Class A mishap?

Answer 4

The resulting total cost of reportable material property damage is $2,000,000 or more; or an injury or occupational illness results in a fatality or permanent total disability.

Class A mishaps represent the most severe incidents in terms of cost and human impact.

Question 5

What is a Class B mishap?

Answer 5

The resulting total cost of reportable material or property damage is $500,000 or more, but less than $2,000,000; or an injury or occupational illness results in permanent partial disability; or three or more personnel are inpatient hospitalized.

Class B mishaps indicate significant incidents that require attention but are less severe than Class A.

Question 6

What is a Class C mishap?

Answer 6

The resulting total cost of reportable material or property damage is $50,000 or more, but less than $500,000; a non-fatal injury that causes any loss of time beyond the day or shift on which it occurred; or a non-fatal illness or disease that causes loss of time from work or disability at any time (lost time case).

For reporting purposes, reportable lost workday Class C mishaps are those which result in 5 or more lost workdays beyond the date of injury or onset of illness (exceptions apply).