What action is taken to manage a risk?

Risk control is the action taken to manage a risk effectively. This encompasses a variety of practices aimed at reducing the likelihood of a risk occurring or minimizing its impact if it does occur. Risk control can include measures such as developing policies, implementing safety protocols, conducting training, and monitoring risks continuously.

In practice, risk control is essential for organizations to maintain a safe and compliant work environment. By establishing procedures and safeguards, companies can prevent or mitigate potential financial losses or harm to employees.

Looking at the other actions related to risk, risk avoidance involves changing plans to sidestep potential risks altogether, which is not always feasible. Risk transfer means shifting the responsibility for a risk to another party, often through insurance, but it does not eliminate the risk. Risk elimination is more absolute and rarely possible, as some level of risk is inherent in any activity. Therefore, while avoidance, transfer, and elimination are important strategies in the broader context of risk management, risk control specifically focuses on actively managing and mitigating risks within an organization.