In ORM, what is the role of a Preliminary Hazard Analysis?

A Preliminary Hazard Analysis (PHA) plays a critical role in the risk assessment process by focusing specifically on the identification of potential hazards within a system or process. This initial analysis is aimed at surveying all possible dangers that might lead to operational failures, accidents, or detrimental effects on organizational assets and personnel.

By identifying these hazards early in the operational risk management framework, organizations can take proactive steps to assess the extent of the risk associated with these hazards, which is fundamental in developing effective risk mitigation strategies afterward. The identification stage is crucial as it serves as the foundation for subsequent evaluations, including risk assessment and the implementation of control measures.

While mitigating risks, evaluating control measures, and reporting incidents are essential components of the overall risk management strategy, they come into play after the initial identification of potential hazards has occurred. Thus, recognizing potential hazards is a pivotal first step that informs all subsequent activities in operational risk management.