short note on risk reduction major
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Let's talk about four different strategies to mitigate risk: avoid, accept, reduce/control, or transfer.
Avoidance. If a risk presents an unwanted negative consequence, you may be able to completely avoid those consequences. ...
Acceptance. ...
Reduction or control. ...
Transference. ...
Summary of Risk Mitigation Strategies.
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Risk Reduction: An Overview. ... Risk avoidance deals with eliminating any exposure to risk that poses a potential loss, while risk reduction deals with reducing the likelihood and severity of a possible loss.
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