VMS Help SET, PROCESS, Qualifiers, /PRIVILEGES  *Conan The Librarian (sorry for the slow response - running on an old VAX)

       /PRIVILEGES=(privilege[,...])

    Requires SETPRV (set privilege) privilege as an authorized
    privilege to enable any privilege you do not have in your
    authorized privilege mask.

    Enables the following process privileges:

    ACNT        ALLSPOOL     ALTPRI      AUDIT
    BUGCHK      BYPASS       CMEXEC      CMKRNL
    DETACH      DIAGNOSE     DOWNGRADE   EXQUOTA
    GROUP       GRPNAM       GRPPRV      IMPORT
    LOG_IO      MOUNT        NETMBX      OPER
    PFNMAP      PHY_IO       PRMCEB      PRMGBL
    PRMMBX      PSWAPM       READALL     SECURITY
    SETPRV      SHARE        SHMEM       SYSGBL
    SYSLCK      SYSNAM       SYSPRV      TMPMBX
    UPGRADE     VOLPRO       WORLD

    Use the SHOW PROCESS/PRIVILEGES command to determine what
    authorized privileges are enabled currently.