CAPM Practice: Determine how to follow and execute planned strategies or frameworks

Mitigation is a risk response strategy that involves taking actions to reduce either the probability of the risk occurring or its impact if it does occur. This is different from avoiding (eliminating), transferring, or accepting the risk.

**Why not B:** Transferring the risk to a third party through insurance or contract describes the "transfer" risk response strategy, not mitigation. Transfer shifts the financial impact or responsibility to another party, while mitigation actively reduces probability or impact.

**Why not C:** Accepting the risk and creating a contingency reserve describes the "accept" risk response strategy. Acceptance means acknowledging the risk without proactive action to reduce it, while mitigation involves taking specific actions to reduce the risk's probability or impact.

**Why not D:** Eliminating the risk entirely by changing the project scope describes the "avoid" risk response strategy. Avoidance removes the threat completely, often by changing project plans, while mitigation reduces but does not eliminate the risk.