In risk management, what is the focus of the action to mitigate?

In risk management, the primary focus of the action to mitigate is on reducing the impact of risks. Mitigation strategies aim to lessen the severity or likelihood of negative outcomes associated with identified risks, rather than completely eliminating or avoiding them.

For instance, a business may implement preventive measures such as safety training or improved processes, which do not remove the risks entirely but significantly minimize their potential impact. The goal of mitigation is to develop a balanced approach that allows for risk acceptance while reducing vulnerability and ensuring that potential adverse effects are manageable.

Eliminating risks entirely is often impractical in many situations, as some level of risk is inherent in most activities. Transferring risks to another party, such as through insurance, shifts the financial burden but does not reduce the risk itself. Avoiding all risks is not feasible, as it can hinder innovation, decision-making, and progress. By focusing on reduction, organizations can effectively manage risks within acceptable limits and maintain operational effectiveness.