What is the process of implementing protective measures to reduce risks called?

The process of implementing protective measures to reduce risks is known as risk mitigation. This involves analyzing potential risks that could affect a project and taking actions to minimize their impact or likelihood. Risk mitigation strategies can include techniques such as creating contingency plans, implementing safer practices, training team members, or using alternative methods to achieve project objectives. By actively working to reduce the probability or consequences of risks, teams can better ensure the success and smooth progress of their projects.

Risk assessment refers to the overall process of figuring out what risks exist and evaluating their potential impact, while risk identification focuses specifically on recognizing and listing potential risks without necessarily taking steps to address them. Risk formulation is not a standard term used in risk management practices in this context. Thus, it is clearly the process of risk mitigation that highlights the actions taken to protect against identified risks.