Final answer:
In the ORM process, the fourth step is to develop controls and transfer them to operations to manage risks effectively.
Explanation:
In the Operational Risk Management (ORM) process, the fourth step is to Develop the controls and transfer to Operations. This step involves establishing measures to mitigate risks identified in the assessment phase.
Developing controls includes creating procedures, guidelines, and protocols to manage risks effectively. Once controls are developed, they are transferred to operations for implementation to enhance overall safety and efficiency.
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