What does the acronym ORM stand for?

The acronym ORM stands for Operational Risk Management. This term is widely used in various fields, including aviation, to describe the systematic process of identifying, assessing, and mitigating risks that could impact operations. It establishes a framework for decision-making that ensures safety and efficiency, particularly in environments where operational activities carry inherent risks.

By employing Operational Risk Management, organizations can proactively manage potential hazards, minimizing their impact on operational performance. This approach is critical in ensuring that personnel are trained to recognize and respond to unanticipated events and safety issues effectively.

The other acronyms, while they may represent valid concepts, do not align with the standard terminology used in risk management contexts or the specific practices associated with operational safety and efficiency.