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5 Examples of Risk Minimization

 , August 25, 2017
Risk minimization is the process of doing everything possible to reduce the probability and/or impact of a risk towards zero. This is reserved for risks that are viewed as unacceptable to a society, organization or individual. Risk minimization should not be confused with the regular business process of risk management that allows for risk acceptance and partial treatment of risk. The following are illustrative examples of risk minimization.


It is common for healthcare related practices to seek to minimize risk. For example, minimizing the risk of infection after an operation.


Safety related practices such as aircraft maintenance.

Dread Risks

It is common for societies, organizations and individuals to minimize risks they fear. In some cases, this generates significant secondary risks. For example, a society that fears a falling economic growth rate may take extreme steps to support growth that cause an asset price bubble that eventually causes harm to the economy.

Existential Risks

In theory, it makes sense to minimize extremely high impact risks.

Risk Tolerance

Individuals or organizations with low risk tolerance may seek to minimize many risks. This may neglect opportunity costs and cause secondary risks.
Overview: Risk Minimization
DefinitionThe process of doing everything possible to reduce the probability and/or impact of a risk towards zero.
Related Concepts

Risk Management

This is the complete list of articles we have written about risk management.
Acceptable Risk
Business As Usual
Business Impact
Business Risks
Calculated Risk
Cascading Failure
Contingency Plan
Contingency Planning
Disaster Preparedness
Dread Risks
Economic Risk
Financial Risk
Innovation Risk
Investing Risk
Plan Template
Political Risk
Positive Risk
Project Risk
Reputational Risk
Residual Risk
Resource Risk
Risk Acceptance
Risk Analysis
Risk Appetite
Risk Awareness
Risk Capacity
Risk Communication
Risk Contingency
Risk Control
Risk Culture
Risk Estimates
Risk Evaluation
Risk Exposure
Risk Impact
Risk Intelligence
Risk Management
Risk Matrix
Risk Measurement
Risk Mitigation
Risk Monitoring
Risk Objectives
Risk Prevention
Risk Probability
Risk Profile
Risk Reduction
Risk Register
Risk Response
Risk Sharing
Risk Taking
Risk Tolerance
Risk Treatment
Risk Trigger
Risk-Reward Ratio
Seasonal Risk
Secondary Risk
Special Risks
Strategy Risk
Tactical Risk
Technology Risk
Unknown Risks
Upside Risk
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Risk Contingency

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