What does 'risk mitigation' mean in the FAIR model?

In the FAIR model, 'risk mitigation' refers to the actions taken to reduce the likelihood or impact of risk events. This concept is central to risk management, as it involves implementing strategies that can lower the probability of negative outcomes occurring or minimize their effects should they occur. Effective risk mitigation can include various measures, such as enhancing security protocols, employee training, or investing in new technologies to address vulnerabilities.

Focusing on risk mitigation is crucial, as it enables organizations to navigate uncertainties more effectively, allocate resources judiciously, and enhance overall resilience against potential threats. It emphasizes proactive measures rather than reactive responses, ensuring that risks are acknowledged and managed before they escalate into significant issues. In essence, the goal of risk mitigation in the FAIR model is to create safer operational environments and protect assets, reputation, and stakeholder trust.