mitigate risk

Meaning

To mitigate risk means to reduce the likelihood or the impact of an unwanted event, financial loss, or danger. It is heavily used in corporate, financial, and project management contexts when discussing strategies to minimize potential negative outcomes.

Examples

• The company diversified its portfolio to mitigate risk during economic downturns.

  The company diversified its portfolio to mitigate risk during economic downturns.

• We need to implement stricter cybersecurity protocols to mitigate the risk of data breaches.

  We need to implement stricter cybersecurity protocols to mitigate the risk of data breaches.

• Purchasing comprehensive insurance is a standard way to mitigate financial risk.

  Purchasing comprehensive insurance is a standard way to mitigate financial risk.

• Before launching the new product, we must conduct a thorough market analysis to mitigate risk.

  Before launching the new product, we must conduct a thorough market analysis to mitigate risk.

• Having a backup supplier helps mitigate the risk of supply chain disruptions.

  Having a backup supplier helps mitigate the risk of supply chain disruptions.

Common Mistakes

• ✗ We must mitigate against potential losses.

  ✓ We must mitigate potential losses.

  Do not use the preposition 'against' after 'mitigate'. 'Mitigate' is a transitive verb that directly takes an object, meaning to make something less severe.

• ✗ This software will mitigate the system errors.

  ✓ This software will mitigate the risk of system errors.

  You mitigate the risk or severity of an error, not the error itself once it has already occurred.

Related Expressions

Practice

• By backing up our servers daily, we can ___ the risk of data loss.

  💡 To make less severe or reduce the likelihood of a negative event.

  Show answer

  mitigate

• The board approved the new strategy to ___ financial risks associated with the merger.

  💡 A transitive verb meaning to reduce or minimize danger.

  Show answer

  mitigate