If a business puts risk management in place as a disciplined and continuous process with the intent of identifying and addressing risks, then the risk management structures can be used to support other mitigation systems including planning, organization, cost control, and budgeting.

Risks Response

Risks response takes one of the following forms:

Prevention: A business aims to remove a particular risk by eliminating its cause
Mitigation: Minimizing the possibility of the occurrence of the risk
Acceptance: Sometimes, a business is forced to accept the risk and develops contingencies to reduce the impact