Question

Relationship between avoidance and elimination

Answer 1

Answer:

Risk avoidance is the elimination of hazards, activities and exposures that can negatively affect an organization's assets. Whereas risk management aims to control the damages and financial consequences of threatening events, risk avoidance seeks to avoid compromising events entirely.

Explanation:

Risk avoidance is the opposite of risk acceptance. It is the action that avoids any exposure to the risk whatsoever. It's important to note that risk avoidance is usually the most expensive of all risk mitigation options