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The SMS (Safety Management System) consists of four key components: policy, safety risk management (SRM), safety assurance, and safety promotion. The policy defines the objectives and requirements set by top management and establishes the framework, procedures, and controls necessary for the implementation and maintenance of the SMS. Procedures and controls are vital for safety in system design. SRM involves identifying hazards, assessing risks, and controlling them, while safety assurance focuses on monitoring these controls to ensure their effectiveness in mitigating risks. Finally, safety promotion fosters a safety culture and communication within the organization.