2013 Operational Risk Management

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| By EPGrzybowski

EPGrzybowski

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Quizzes Created: 8 | Total Attempts: 9,180

Questions: 5 | Attempts: 152 | Updated: Aug 22, 2024

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Operational Risk Management (ORM) is an important tool for making smart and safe decisions. It should be used at all operating level by all employees. Acting as part of a Team, each employee has a critical role in managing and mitigating risk. This quiz tests the student’s Knowledge and understanding of the BMLP ORM policies and procedures as described in Section 5 of the BMLP RCP.

Questions and Answers

1.

By implementing ORM in the planning and execution of operations, the impact of the dangers faced by tugs, crews and jobs can be minimized.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
Implementing ORM (Operational Risk Management) in the planning and execution of operations can help minimize the impact of dangers faced by tugs, crews, and jobs. ORM involves identifying potential risks, assessing their likelihood and severity, and implementing measures to mitigate or eliminate them. By adopting ORM practices, organizations can proactively identify and address risks, leading to improved safety and efficiency in operations. Therefore, the statement "By implementing ORM in the planning and execution of operations, the impact of the dangers faced by tugs, crews, and jobs can be minimized" is true.

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2.

The Safety Manager is responsible for stressing application of ORM during daily operations of boats and crews.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
The Safety Manager is not responsible for stressing the application of ORM during daily operations of boats and crews. This statement implies that the Safety Manager has the responsibility to emphasize the use of Operational Risk Management (ORM) in the daily operations of boats and crews, but the correct answer states that this is false. Therefore, it can be concluded that the Safety Manager is not responsible for stressing the application of ORM during daily operations.

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3.

The Master is responsible and accountable for onboard application of ORM for tug, crew, and operations.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
The statement is true because the Master, as the highest-ranking officer on board a ship, is responsible for ensuring the safe and efficient operation of the vessel. This includes implementing and adhering to the principles of Operational Risk Management (ORM). ORM involves identifying potential risks, assessing their likelihood and consequences, and implementing measures to mitigate or eliminate them. The Master is accountable for applying ORM not only to the tug itself but also to the crew and overall operations, ensuring a culture of safety and risk management on board.

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4.

ORM comprises a number of specific and deliberate steps that are accomplished prior to and during planning and operation. Steps include, but are not limited to:
- A.
  
  Identify hazards
- B.
  
  Assess hazards
- C.
  
  Implement controls
- D.
  
  All the Above
Correct Answer
D. All the Above

Explanation
The correct answer is "All the Above." This is because ORM (Operational Risk Management) involves several specific steps that need to be carried out before and during planning and operation. These steps include identifying hazards, assessing hazards, and implementing controls. By completing all of these steps, organizations can effectively manage and mitigate risks, ensuring the safety and success of their operations.

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5.

Employees share a responsibility in the knowledge, understanding and applications of ORM to all operations conducted.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
The statement suggests that employees have a responsibility to possess knowledge, understanding, and application of ORM (Operational Risk Management) in all operations. This means that employees are expected to be aware of and actively participate in managing and mitigating risks associated with their work. By sharing this responsibility, employees contribute to the overall effectiveness and success of ORM within the organization. Therefore, the correct answer is True.

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Current Version
Aug 22, 2024

Quiz Edited by
ProProfs Editorial Team
May 31, 2013

Quiz Created by
EPGrzybowski

2013 Operational Risk Management

By implementing ORM in the planning and execution of operations, the impact of the dangers faced by tugs, crews and jobs can be minimized.

The Safety Manager is responsible for stressing application of ORM during daily operations of boats and crews.

The Master is responsible and accountable for onboard application of ORM for tug, crew, and operations.

ORM comprises a number of specific and deliberate steps that are accomplished prior to and during planning and operation. Steps include, but are not limited to:

Employees share a responsibility in the knowledge, understanding and applications of ORM to all operations conducted.