The _____ is the plan to reduce or eliminate loss from unexpected events.
A) risk transfer plan
B) risk avoidance plan
C) risk acceptance plan
D) risk deflection plan
E) risk mitigation plan

Question

Quizplus · Accepted Answer

The term "risk mitigation" refers to the process of reducing or minimizing possible risks through a variety of methods, including risk assessment, risk prioritization, and risk reduction strategies. This involves developing and implementing a comprehensive risk mitigation plan that identifies potential hazards, analyzes their impact, and establishes measures to mitigate or eliminate them. Risk transfer, avoidance, and acceptance are all other risk management strategies that may be used in conjunction with risk mitigation, but they are not the same as risk mitigation itself. Risk deflection is not a commonly used term in risk management.

The _____ Is the Plan to Reduce or Eliminate Loss