Operational Risk Management - Four Principles of ORM

Four Principles of ORM

The U.S. Department of Defense summarizes the principles of ORM as follows:

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

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Famous quotes containing the word principles:

    The same principles which at first view lead to skepticism, pursued to a certain point, bring men back to common sense.
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