In risk management, what term describes coordinating and implementing actions to reduce risk probability or impact?

In risk management, what term describes coordinating and implementing actions to reduce risk probability or impact?

• A. Risk Identification
• B. Risk Mitigation
• C. Risk Assessment
• D. Risk Acceptance

Answer: (B)

Risk mitigation is about coordinating and implementing actions to lessen either how likely a risk is to occur or how severe its impact would be. In the risk-management process, once risks are identified and assessed, mitigation focuses on taking concrete steps to reduce risk to an acceptable level—such as adding safeguards, implementing new controls, improving processes, or transferring risk through contracts or insurance. This distinguishes it from simply identifying risks (finding potential problems), assessing them (measuring probability and impact), or choosing to accept the risk (not taking action). For example, installing an intrusion prevention system or adding backup redundancy directly reduces the chances or consequences of a cyber or operational risk, which is precisely what mitigation aims to accomplish.

Risk mitigation is about coordinating and implementing actions to lessen either how likely a risk is to occur or how severe its impact would be. In the risk-management process, once risks are identified and assessed, mitigation focuses on taking concrete steps to reduce risk to an acceptable level—such as adding safeguards, implementing new controls, improving processes, or transferring risk through contracts or insurance. This distinguishes it from simply identifying risks (finding potential problems), assessing them (measuring probability and impact), or choosing to accept the risk (not taking action). For example, installing an intrusion prevention system or adding backup redundancy directly reduces the chances or consequences of a cyber or operational risk, which is precisely what mitigation aims to accomplish.