The ideal definition of risk mitigation is "a strategy that is an action that minimizes either the possibility of risk occurrence and/or its impact."
In order to reduce, monitor, and control the likelihood or impact of unpleasant events or to optimize the realization of possibilities, Risk mitigation, involves the identification, evaluation, and prioritizing of risks. This is followed by the coordinated and efficient use of resources.
Risk mitigation, like risk reduction, involves taking measures to lessen the detrimental consequences of risks and disasters on company continuity (BC). Cyberattacks, weather-related disasters, and other potential sources of real or imagined harm are examples of threats that could endanger a business.
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