Which is NOT a step in the ORM process?

The option regarding "Analyze Data" is not a recognized step in the Operational Risk Management (ORM) process. The ORM process generally includes steps such as identifying hazards, assessing risks, making risk decisions, and implementing controls, all aimed at managing risks effectively.

In typical ORM procedures, the first step involves identifying hazards that could potentially affect operations or the safety of personnel. Following that, a comprehensive risk assessment is conducted to evaluate the severity and likelihood of these hazards. The outcome of this assessment leads to making informed risk decisions, determining whether the risks are acceptable or if further control measures are required. Finally, implementing controls refers to the measures put in place to mitigate or eliminate identified risks.

While analyzing data may play a supporting role in informing decisions and understanding risks, it is not an explicit step in the ORM framework. The focus remains on the active management of hazards and the strategic implementation of safety measures.