Risk Mitigation

Mitigation is the work we must do ahead of time that allows us to carry out our ContingencyPlan if a risk materialises.

For example, if our ContingencyPlan for a fire requires the use of fire-extinguishers, then the mitigation is buying; placing; maintaining; and training in their use.

RiskMitigation can substantially reduce the size of our RiskReserve, but unlike RiskAcceptance, the cost cannot be recovered should the risk not materialise.

See AnatomyOfRisk and RiskManagement