Which of the following is NOT one of the five levels of ORM?

The five levels of Operational Risk Management (ORM) typically include identifying hazards, assessing hazards, making risk decisions, implementing controls, and supervising and reviewing. Among the given options, the process of "mitigating risks" is not explicitly listed as one of these levels. Instead, risk mitigation is generally considered a part of the implementation of controls or actions taken after risks have been assessed and decisions made. The correct answer reflects this understanding by identifying an option that does not correspond to the defined levels of ORM. This is crucial in ORM, as understanding these steps helps organizations manage risks systematically and effectively, ensuring safety and operational success.