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What's the difference between a risk avoidance and risk mitigation strategy?

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Question ajoutée par Alex Al Yazouri , General Manager , Al Mushref Cooperative Society
Date de publication: 2015/01/15
VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
par VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

To mitigate a threat is to reduce the probability or the project impact to fall within our tolerance for risk.  Where Risk Avoidance eliminates the threat, Risk Mitigation only reduces the threat.

Irina Chepel
par Irina Chepel , Personal trainer , Freelancer

Risk Avoidance, a strategy for responding to a negative risk event, or threat.  This response to an identified threat eliminates the threat.  The probability of it occurring is brought to0%, or the specific project impact of the threat’s occurrence is brought to zero.

Risk Mitigation.  To mitigate a threat is to reduce the probability or the project impact to fall within our tolerance for tisk.  Where Risk Avoidance eliminates the threat, Risk Mitigation only reduces the threat. 

Vinod Jetley
par Vinod Jetley , Assistant General Manager , State Bank of India

Avoidance The action or strategy chosen will be such that it eliminates the factors that generate the risk. For example, multi-sourcing a software system’s server will avoid the risk of delays to the project if your single source supplier cannot deliver the server on time.

Mitigate Risk mitigation entails devising an approach that can lessen the likelihood of the risk event happening, but not completely avoid it, or lessen the impact if it does happen, but not completely eliminate it.

Utilisateur supprimé
par Utilisateur supprimé

Risk mitigation requires modification in project activity or task  in order to reduce risk of that activity. For example having a substitute vendor ready in case of primary vendor's lengthy procedure or long lead time.

Avoidance of risk is avoiding project activity or task related to that specific risk. For example to avoid risky drive in slippery condition, take public transport.

Alex Al Yazouri
par Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

Risk avoidance is what to do to avoid the risk.

Risk mitigation is essentially what to do when the risk happens.

A project manager may mitigate risks if the cost of avoiding is too high (or if there isn't enough time), otherwise, risks are typically avoided.

Kaamila Tahseen
par Kaamila Tahseen , Change Management Team Manager , cognizant technology solutions

Risk avoidance and mitigation are two strategies to prevent negetive risks which are threats for a project to complete. Avoiding a risk means to stop or change the track of what is being followed currently to prevent risk completely Mitigating risk means putting preventive actions in place when risk arises, here risk can only be reduced. Cannot be prevented completely

LABIB KOOLI
par LABIB KOOLI , Director of the Sectoral Center for Training in Hotel Technologies at Southern Hammamet , Tunisian Vocational Training Agency (ATFP)

 

Risk avoidance are preventative actions if were effectively implemented should lead the risk occurence probability to zero. 

On the other hand mitigation risk strategy may tolerate the risk within a prefixed limlits. 

Avoidane >> Mitigation 

 

Muhammad samran
par Muhammad samran , Junior Officer/Project Coordinator , Pakistan Stell Mill

Risk mitigation is the act of decreasing the riskiness of a project.

Risk avoidance is the act of eliminating the riskiness of a project.

 

mohamed abdelmged gijhu
par mohamed abdelmged gijhu , مسئول حركة - مدير فرع , سي سكوب الغواصة بشرم الشيخ

If no threat Mafi project can avoid the risks final draw up a plan for the lack of mistakes.

But if the threat of a sudden happened during work on the project must be the development of appropriate plan to avoid as much of the potential risks.

Basit Ali
par Basit Ali , Director of Engineering , Laverda Suites & Villas / Blue Bay Resorts

Agree with experts

Elke Woofter
par Elke Woofter , Project Assistant , American Technical Associates

There are many good answers and I have nothing to add at this time

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