Definitions for "Risk Mitigation"
Action to reduce, transfer, or eliminate risk. [D04226] CSM The act of revising the project scope, budget, schedule or quality, preferably without material impact on the project objectives, in order to reduce uncertainty on the project. [D01738] PMK87
Implementation of measures to deter specific threats to the continuity of business operations, and/or respond to any occurrence of such threats in a timely and appropriate manner.
Actions taken to eliminate or reduce risk by reducing the probability and or impact of occurrence.
Financing long term infrastructure such as water supply incurs risks of many kinds, such as country (sovereign) default, devaluation, foreign exchange transfer restrictions, expropriation, breach of contract, regulatory failure, commercial misjudgment, etc. Lenders, investors and suppliers can insure against many of these risks through official agencies or private markets. Development agency guarantees have a similar purpose.
The processes built into the controls environment, such as policies, frameworks, accountabilities etc to lower the residual risk.
Keywords:  reduction, see
See Risk reduction.