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Operational risk management (ORM) is defined as a continual recurring process that includes risk assessment, risk decision making, and the implementation of risk controls, resulting in the acceptance, mitigation, or avoidance of risk. ORM is the oversight of operational risk, including the risk of loss resulting from inadequate or failed ...
v. t. e. Refusal of work is behavior in which a person refuses regular employment. [ 1 ] As actual behavior, with or without a political or philosophical program, it has been practiced by various subcultures and individuals. It is frequently engaged in by those who critique the concept of work, and it has a long history.
Operations is one of the major functions in an organizationalong with supply chains, marketing, financeand human resources. The operations function requires management of both the strategic and day-to-day production of goods and services.
Operations research (British English: operational research) (U.S. Air Force Specialty Code: Operations Analysis), often shortened to the initialism OR, is a discipline that deals with the development and application of analytical methods to improve decision-making. [1] The term management science is occasionally used as a synonym.
OODA loop. The OODA loop (observe, orient, decide, act) is a decision-making model developed by United States Air Force Colonel John Boyd. He applied the concept to the combat operations process, often at the operational level during military campaigns. It is often applied to understand commercial operations and learning processes.
A military operation plan (commonly called a war plan before World War II) is a formal plan for military armed forces, their military organizations and units to conduct operations, as drawn up by commanders within the combat operations process in achieving objectives before or during a conflict. [1] Military plans are generally produced in ...
A hazard and operability study (HAZOP) is a structured and systematic examination of a complex system, usually a process facility, in order to identify hazards to personnel, equipment or the environment, as well as operability problems that could affect operations efficiency. It is the foremost hazard identification tool in the domain of ...
Problem solving is the process of achieving a goal by overcoming obstacles, a frequent part of most activities. Problems in need of solutions range from simple personal tasks (e.g. how to turn on an appliance) to complex issues in business and technical fields. The former is an example of simple problem solving (SPS) addressing one issue ...