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This lesson covers risk mitigation. Proper risk mitigation strategy is the result of strong quantitative analysis. The goal of risk management is to bring the level of risk down to a level which is acceptable by senior management. This lesson also covers ways to reduce risk, acceptance of risk and risk transfer. It is important to remember that avoidance and rejection are not acceptable ways of dealing with risk. Participants also learn additional risk terms such as: Total risk Residual risk Secondary risk