What does risk mitigation involve?

Risk mitigation involves taking proactive steps to implement controls that reduce the likelihood or impact of identified risks. This can include a variety of strategies, such as installing security measures, establishing policies and procedures, or providing training to personnel. The goal of risk mitigation is to minimize potential harm to an organization and ensure that risks are managed effectively.

When risks are identified, it is not sufficient to merely understand or acknowledge them; action must be taken to lessen their impact on the organization's objectives. By implementing effective controls, organizations can protect their assets, resources, and reputation, ultimately leading to healthier risk management practices.

The other options do not reflect the proactive nature of risk mitigation. Identifying risks without taking action does not contribute to reducing these risks. Ignoring risks fails to address potential threats, leaving the organization vulnerable. Accepting risks without attempting to manage or mitigate them can lead to significant negative consequences if these risks materialize. Hence, focusing on implementing controls is central to the concept of risk mitigation.