The document outlines a 6 step process for operational risk management. Step 1 involves brainstorming potential hazards. Step 2 assesses the likelihood and severity of each hazard. Step 3 analyzes the risks by determining the risk level based on likelihood and severity. Step 4 identifies control options to address the risks. Step 5 implements the risk controls. Step 6 supervises the controls by monitoring for signs of success or inefficiency.