Which element is crucial for hazard identification in ORM despite the timing?

Identifying is a fundamental element in Operational Risk Management (ORM), as it forms the basis for recognizing potential hazards that could impact safety and performance. The process of hazard identification involves systematically reviewing tasks, activities, and environments to pinpoint elements that could pose risks. This step is crucial regardless of the timing, as it allows for the early detection of risks before they can manifest into actual incidents.

The identification phase not only focuses on spotting existing hazards but also anticipates possible future risks, incorporating a proactive approach in risk management. By effectively identifying hazards, organizations can implement appropriate controls and measures to mitigate risk, leading to a safer operational environment.

While planning, assessing, and supervising also play important roles in ORM, they typically build upon the foundational step of identifying hazards. Without first identifying the risks, the subsequent processes would lack the necessary context and focus to ensure effective risk management.