Risk mitigation is identifying ways to execute a strategy with less risk.Risk reduction is identifying ways to eliminate risk.Risk Mitigation vs Risk ReductionRisk mitigation implies that you are proceeding with a activity but want to find ways to make it less risky. Risk reduction includes the possibility that you avoid an activity altogether because it's too risky. Risk reduction encompasses both risk mitigation and risk avoidance. An airline might mitigate safety risks by improving maintenance procedures. They might avoid safety risks by ceasing flights to a country that has become politically unstable to the point that the airport is ripe with security risks. |
| Risk Mitigation | Risk Reduction | | Definition | Finding ways to conduct a given activity with less risk. | Finding ways to take on less risk including the possibility of avoiding activities altogether. |
Risks
This is the complete list of articles we have written about risks.
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A list of common business risks.
The four things that can be done about risk.
A list of techniques for reducing risk.
The potential that you'll achieve too much of a good thing.
Any risk that people have a strong aversion too.
The surprising similarities between risk and opportunity.
The difference between risk management and contingency planning.
The common types of uncertainty in decision making and strategy.
The common types of inventory risk.
An overview of common business risk management techniques.
A metric for measuring risk management.
The definition of risk taking with examples.
A list of risk examples by type.
The two main factors in modeling a risk.
A definition of calculated risk with an example.
How to calculate relative risk with examples.
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