3.12 Mitigation is the process of reducing or eliminating the risk of potential losses through preventive and/or corrective measures. It involves identifying, analyzing, and responding to risks before they occur. This type of mitigation can be used to address risks related to natural disasters, technological disasters, economic events, or other unforeseen circumstances. Common types of 3.12 Mitigation include risk assessment, risk management, risk prevention, risk control, risk avoidance, and risk transfer. Risk assessment involves identifying the potential risks and their potential impact, while risk management involves taking steps to reduce or eliminate these risks. Risk prevention involves taking steps to prevent or minimize the impact of potential risks, and risk control involves taking steps to control or manage the risks that have been identified. Risk avoidance involves avoiding activities that could lead to a risk, and risk transfer involves transferring the risk to a third party.