What is the objective of the 'assess' step in ORM?

The objective of the 'assess' step in Operational Risk Management (ORM) is to determine the degree of risk associated with identified hazards. This step involves evaluating the potential impact and likelihood of different risks, which allows for prioritization and informed decision-making regarding risk management strategies.

By accurately assessing the degree of risk, personnel can understand the potential consequences of various actions and how they may affect safety and operational effectiveness. This risk assessment is crucial for developing appropriate control measures and procedures to mitigate those risks.

While other options may relate to important aspects of ORM, such as identifying hazards or implementing controls, the core focus of the 'assess' step specifically pertains to evaluating risk levels, establishing a clear understanding of what those risks entail, and determining how they should be managed moving forward.