What Does It Mean to Mitigate Risk?
The term “mitigate risk” and “risk mitigation” is slightly misleading. This is because the meaning of the term “risk” changes depending on the context in which it is used.
Confusion also exists because different safety experts have different understandings of what “risk” means.
Risk can mean:
- The composite likelihood and severity of something happening, as in “The risk of…”;
- A specific occurrence that is bad/undesirable, as in a “risk occurrence.”