Risk mitigation is not an easy task; instead, it is even harder if there is no quantifiable measure attached to it. In this chapter, we will discuss a systematic approach to risk mitigation.
There are four types of risk mitigation strategies one could use, namely, risk avoidance, acceptance, transference, and risk control or reduction. While avoidance and acceptance indicate straightforward actions to take, we will discuss transference in Chapter 10.
In this chapter, we will focus on risk control or reduction with systematic methodology. This method will ...
