In ORM, what should you do when 'identifying'?

When identifying risks in the context of Operational Risk Management (ORM), conducting a preliminary hazard analysis is a crucial step. This initial analysis allows individuals or teams to systematically identify and assess potential hazards that could lead to adverse outcomes in operations. By focusing on identifying these hazards, one can develop a clearer understanding of what risks exist within a given operation or activity.

The preliminary hazard analysis typically involves gathering information regarding the operational environment, equipment, and processes in use. It includes evaluating past incidents or near-misses to pinpoint areas that may pose threats. This foundational step is vital for informing subsequent actions, such as implementing risk controls or assessing risk levels, which can only be effectively done once the hazards have been properly identified.

This approach ensures that decision-makers have a comprehensive view of the potential risks they may face, allowing them to prioritize and address these risks in a structured manner.