_____________ involves a detailed analysis of what can be done to reduce or eliminate the probability and severity of these adverse events while also considering the trade-offs involved.

Question

Quizplus · Accepted Answer

Risk mitigation involves analyzing risks and taking measures to reduce or eliminate their potential impact. It considers the trade-offs involved and aims to prevent the occurrence of adverse events. Contingency planning involves preparing for possible adverse events, while risk monitoring involves ongoing assessment and evaluation of potential risks. Loss prevention involves implementing measures to prevent loss rather than reducing the probability or severity of adverse events. Risk assessment is an initial step in identifying potential risks but does not involve taking action to mitigate them.

_____________ Involves a Detailed Analysis of What Can Be Done