Which process focuses on mitigating risks to achieve desired outcomes?

The process that focuses on mitigating risks to achieve desired outcomes is risk management. This involves identifying potential risks, analyzing their impact, and implementing strategies to address them, ultimately leading to informed decision-making regarding resource allocation and protective measures. Effective risk management aims to minimize negative impacts on the organization while enabling it to pursue its objectives and goals with greater confidence.

In contrast, other processes, such as risk avoidance, concentrate on eliminating potential risks entirely, which may not always be feasible or practical. Risk analysis serves to assess the potential risks and their implications, but it is a part of the broader risk management framework rather than a stand-alone process focused on mitigation. Risk acceptance refers to acknowledging risks that cannot be avoided or mitigated and deciding to tolerate them, which does not actively address risk reduction or control.