What are the three levels of Operational Risk Management (ORM)?

The three levels of Operational Risk Management (ORM) are In-Depth, Deliberate, and Time Critical. This framework is designed to help individuals and organizations identify, assess, and mitigate risks based on the context and urgency of the situation they’re facing.

In-Depth ORM is utilized for planning and executing operations where thorough analysis is possible, allowing for comprehensive risk assessments and more detailed planning. Deliberate ORM is typically applied during standard operations where there is time to coordinate and implement risk management measures but may not require the same level of detail as in-depth analyses. Time Critical ORM is employed in situations that demand immediate action, where risks must be assessed quickly to respond effectively to fast-evolving scenarios.

This understanding of ORM levels is crucial for operating effectively in environments with varying degrees of risk and urgency, providing teams with a structured approach to managing risks effectively at different speeds and depths of analysis.