‘ mitigation ’

A Risk Sciences International glossary definition (Last modifed: December 15, 2023)

mitigation

« Back to Glossary Index

Risk mitigation refers to the process of identifying, assessing, and prioritizing risks to an organization, project, or system, followed by the application of coordinated strategies and resources to minimize the potential adverse impacts. These strategies are geared towards reducing the likelihood of a risk event occurring, or mitigating the impact should the risk event transpire. Essentially, risk mitigation acts as a contingency planning mechanism that aims to protect an entity’s objectives and ensure operational resilience.

In the context of project management, risks are often categorized into various types such as operational, financial, reputational, or strategic risks. For each identified risk, appropriate mitigative actions are then developed. These actions may involve procedural adjustments, allocation of additional resources, or the implementation of new technologies. The end goal is to either avoid the risk entirely or to reduce its impact to an acceptable level.

Risk mitigation is not a one-time activity but rather an ongoing process that involves continuous monitoring and evaluation. Regular reviews are conducted to assess the efficacy of mitigative actions and to make necessary adjustments in the light of new data or changing circumstances. Overall, risk mitigation is a crucial aspect of sound governance and decision-making in any organized setting.

Related Articles:
  • RSI and Engineers Canada develop on-line training courses
  • Melvin Andersen
    Dr. Andersen's illustrious 45-year career in toxicology and risk assessment includes key positions such as Chief Science Officer at The Hamner Institutes for Health Sciences and Professor of Environmental Health at Colorado State University. His significant contributions include developing biologically realistic models for toxic chemical and drug effects, notably in physiologically based pharmacokinetic (PBPK) modeling, advancing the field of chemical risk assessment. Dr. Andersen's prolific research output consists of over 500 papers and book chapters, earning him prestigious awards like the Lehman and Merit Awards from the US Society of Toxicology and the Mildred S. Christian Award from the Academy of Toxicological Sciences.
  • RSI launches Global Risk Census
  • Patricia Larkin
    Dr. Patricia Larkin's career is dedicated to policy and regulatory assessments, focusing on the intersection of social determinants of health and health equity. Her expertise lies in managing human health and environmental risks, particularly in energy, water resources, and climate change. Patricia's research explores Canadian innovation in energy regulatory decision-making and its impact on risk management. She has led interdisciplinary international research projects, addressing risk management in public decision-making and environmental issues like carbon capture and storage. As Chair of the Applied Risk Management Specialty Group of the Society for Risk Analysis, she continues to contribute to this field.
  • RSI paper on Manganese PBPK selected as a top 2017 paper
  • RSI speaks to The Weather Network about wildfires and climate
  • Decision making framework developed for Canadian Blood Services (CBS) now online
  • IAI climate change report
  • Quinolones and risk of retinal detachment
  • Ila Cote
    Dr. Cote boasts over 35 years of expertise in public health risk assessment and environmental management. She advises governments and industries on chemical exposure risks and risk assessment implementation. An adjunct professor at the University of Colorado, she educates on environmental health, risk assessment, and public policy. Dr. Cote also teaches risk assessment at Rutgers University. Her research focuses on cancer, respiratory diseases, and enhancing risk assessment methods. She spent 27 years at the US Environmental Protection Agency, serving in roles like Senior Science Advisor, Division Director, and Associate Laboratory Director. Dr. Cote's influence extends globally, advising organizations like the World Health Organization and the National Institutes of Health.
  • Risk of Myocarditis and Pericarditis
  • Paul Stanish
    Paul Stanish holds a B.Sc. in Chemistry from Carleton University and a Ph.D. in Chemistry and Nanotechnology from the University of Waterloo. His doctoral research focused on energy movement in semiconducting oxides. Paul has experience in analytical chemistry and has developed Android applications for risk management in options trading. He joined Risk Sciences International in 2021, focusing on leveraging emerging tools to modernize client understanding of risk and streamline data culture.
  • Training Seminar in Systematic Review
  • Peter Aggett
    Dr. Peter Aggett, a Pediatrician specializing in Gastroenterology, Metabolism, and Chemical Pathology, focuses on essential trace elements in health and disease. He holds the position of Emeritus Head at Lancashire School of Health and Postgraduate Medicine and is a Professor of Child Health and Nutrition at the University of Central Lancashire. His extensive career includes roles in public health nutrition, nutrient risk assessment, and food safety, contributing to scientific advisory committees worldwide. Following retirement, Dr. Aggett continued as an External Expert for EFSA, reviewing Dietary Reference Values for essential micronutrients.
  • Paul Price
    With 45 years of experience in exposure and risk assessment, Dr. Paul Price has worked with diverse organizations, including the U.S. EPA and Dow Chemical. Specializing in mixture risk assessments, he is an adjunct professor at the University of Iowa and serves on the European Food Safety Authority’s committee on combined exposures. A prolific author, Dr. Price is currently focused on publications concerning mixture risk assessment and the Mixture Adjustment Factor.
  • Safety Profiles of Newer Contraceptives presented at meeting of Society of Reproductive Investigation
  • Principles of risk decision-making
    RSI investigators propose fundamental principles of risk decision-making, and explore their application in a range of real-world risk decision-making contexts. These ten principles will provide valuable guidance on addressing current and future risk issues facing civil societies worldwide.
  • Value of information analysis framework
  • Food safety assessments
  • Evidence-based Risk Assessment Framework
  • Dr. Emma Hartnett Selected for JEMRA Roster of Scientific Experts
  • Risks of anticholinergic drugs
  • Best Practices for Consideration of the Effects of Climate Change in Project-Level Assessments
  • QuarterWatch analyzes MedWatch Reports
  • Shintaro Hagiwara
    With a B.Math, M.Sc, and Ph.D in Statistics from Carleton University, Shintaro Hagiwara specialized in optimal design for quantitative high-throughput screening and a value-of-information framework for regulatory decision-making. He honed his communication skills through teaching and consulting roles at Carleton. Since joining Risk Sciences International in 2023, his focus has been on applying the VOI framework and developing health-based guideline values for chemicals.
Categories: scientific and technical
« Back to Glossary Index