What is the term for applying ORM at the point of commencing or during execution of a task?

The concept referred to as applying Operational Risk Management at the point of commencing or during execution of a task is known as Time Critical Risk Management. This term captures the essence of managing risks in scenarios where immediate decisions and actions are required, often in fast-paced environments.

Time Critical Risk Management involves identifying and mitigating risks on-the-spot or dynamically as tasks unfold, ensuring that any potential adverse effects are minimized in real-time. This approach is particularly important in situations where there is little time for extensive risk deliberation, thus allowing for quick yet informed decision-making that prioritizes safety and operational efficiency.

The other terms provided do not specifically capture this aspect of risk management. For instance, an ORM Review typically refers to a more thorough evaluation of risks that may occur before starting a task. Operational Control implies a broader framework of governance and monitoring rather than focusing on immediate execution. Pre-Execution Assessment is aimed at determining risks and implementing measures prior to commencing a task, rather than addressing risks as they occur. Thus, the emphasis on immediacy and execution in Time Critical Risk Management is what makes it the most appropriate term in this context.