Another way to respond to threats is to mitigate their effects. When you mitigate a threat you reduce the likelihood that it’ll occur — and reduce the impact it’ll have if it does occur — to acceptable levels.
Mitigating threats is a good option when avoiding or transferring them isn’t possible, or when these responses are too expensive. Mitigation is the risk response used most often by managers.
There are a number of techniques you can use to mitigate threats.
Less complex processes
One way is to adopt less complex processes. Imagine you’re the manager responsible for distributing charity funds.
Your risk analysis reveals that errors in the printing, distribution, and processing of application forms could lead to delayed or misdirected distribution of the funds.
You mitigate this risk by getting your team to develop a simple application form that can be accessed, completed, and submitted online.
More tests on a product or service
Another mitigation technique is to conduct more tests on a product or service. Let’s say you’re a senior manager for a games company and you invite a target group to test a trial version of a game well ahead of its planned release.
The group’s comments are fed back to the design team, who respond with improvements to the game.
This mitigates the risk that the product will disappoint gamers when it’s released.
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