Which of the following best describes risk mitigation?

Risk mitigation encompasses actions taken to reduce either the likelihood of a risk occurring or the impact it would have if it does occur. This proactive approach involves various strategies, such as implementing security controls, developing contingency plans, or employing technology solutions, all targeting the minimization of potential negative outcomes associated with identified risks.

By focusing on measures that minimize both the probability and the consequences of risks, organizations can significantly enhance their resilience against threats. This strategic alignment not only safeguards assets but also ensures that potential disruptions to operations or reputational damage are kept to a manageable level, thus promoting overall organizational stability.

The other choices do not align with the concept of risk mitigation. For instance, simply ignoring a risk does not address the underlying issue and fails to provide any kind of defense or response strategy. Enhancing resources might be beneficial, but it does not specifically focus on reducing risk impact or likelihood directly. Transferring risk might be a valid strategy in some contexts, such as through insurance, but it does not actively reduce the risk within the organization itself. Hence, the essence of risk mitigation is captured best by implementing measures tailored to reduce risks effectively.