Within the world of risk management – a common aspect of improvement projects – there is a distinction between response and mitigation. A response is taken in reaction to risk, while mitigation is undertaken proactively. Thus, responses are implemented once risk materializes, and mitigation actions must be planned and implemented before a risk presents itself. The focus of this article is on mitigation actions and exploring both the limitations of a traditional risk analysis model and a method for overcoming these limitations.
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