risk-mitigation

Vocabulary Word

Definition

'Risk-mitigation' refers to taking steps to lessen the impact of potential problems. It's like a safety net set up to catch problems before they become disasters.

Examples in Different Contexts

In cybersecurity, 'risk mitigation' refers to the measures taken to reduce the likelihood and impact of security threats. A cybersecurity expert might say, 'Through continuous monitoring and the implementation of robust security protocols, we are actively engaged in risk mitigation.'

Practice Scenarios

Aerospace

Scenario:

When building this new spacecraft, we need to take all potential failures into account. What safety protocols should we prioritize?

Response:

We should consider risk-mitigation strategies like having redundant control systems and detailed failure mode analyses.

Academics

Scenario:

Given our relatively small sample size, we should seriously address potential biases and errors in our ongoing study.

Response:

We should definitely focus on risk-mitigation. Adding more data points and running pilot studies can help minimize biases and errors.