Risk mitigation primarily involves:

Risk mitigation focuses on implementing strategies specifically designed to reduce or eliminate the potential impact of risks on an organization. This process involves identifying potential risks, assessing their severity, and then taking proactive measures to mitigate these risks before they can cause significant harm. These strategies can include diversifying investments, enhancing security protocols, putting in place robust compliance measures, or developing contingency plans.

This approach is integral to Operational Risk Management, as it enables organizations to create a safer operating environment and maintain operational effectiveness. Risk mitigation is a fundamental aspect of ensuring that an organization can withstand adverse events and continue functioning smoothly. By concentrating on minimizing risks, organizations can protect their assets, reputation, and overall stability.