Definition

risk avoidance

Risk avoidance is the elimination of hazards, activities and exposures that can negatively affect an organization's assets

Whereas risk management aims to control the damages and financial consequences of threatening events, risk avoidance seeks to avoid compromising events entirely.

While the complete elimination of all risk is rarely possible, a risk avoidance strategy is designed to deflect as many threats as possible in order to avoid the costly and disruptive consequences of a damaging event. A risk avoidance methodology attempts to minimize vulnerabilities which can pose a threat. Risk avoidance and mitigation can be achieved through policy and procedure, training and education and technology implementations. 

See also: risk assessment

 

Contributor(s): Bianca Rawson
This was last updated in January 2014
Posted by: Margaret Rouse

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