In which of the following risk strategies is risk reduced to an acceptable, threshold level, perhaps through redesigning a product to include more backup systems or increasing product reliability?
A) Mitigation
B) Avoidance
C) Passive acceptance
D) Transfer

Question

Quizplus · Accepted Answer

Mitigation is a risk strategy that involves taking measures to reduce the probability or impact of a risk. In this case, the risk is reduced to an acceptable level through redesigning the product to include more backup systems or increasing product reliability. Avoidance involves eliminating the risk altogether, passive acceptance is accepting the risk without taking any action, and transfer involves transferring the risk to another party, such as an insurance company.

In Which of the Following Risk Strategies Is Risk Reduced