Question: 1. Define risk mitigation and risk contingency.Risk mitigation refers to the proactive steps taken to reduce the probability or impact of a potential threat before

1. Define risk mitigation and risk contingency.Risk mitigation refers to the proactive steps taken to reduce the probability or impact of a potential threat before it occurs. It is essentially prevention-focused, involving actions designed to lower exposure to risk and limit harm. Risk contingency, on the other hand, is a plan that outlines what to do if the risk actually materializes. Instead of prevention, contingency emphasizes response, ensuring that damage is controlled, resources are available, and recovery can take place.2. Explain the difference between mitigating a risk and having a contingency plan for a risk.The main difference lies in timing and purpose. Mitigation happens before a risk occursit is about reducing the chance or severity of the risk in the first place. Examples include safety rules, protective equipment, or preventive medicine. Contingency, however, applies after the risk event has occurred. It ensures there is a clear, structured way to respond so the impact does not spiral out of control. In short, mitigation is about prevention, while contingency is about response and recovery.3. COVID-19 actions: mitigation vs contingency.To mitigate the risk of becoming infected with COVID-19, individuals were encouraged to avoid crowds, receive vaccination, wear face masks, wash their hands, and maintain safe distance from others. These measures lower the chance of transmission and act as preventive safeguards. On the other hand, contingency plans apply to people who are already infected. For COVID-19, this includes providing steroids to suppress immune overreactions in severe cases and administering antiviral drugs like Paxlovid to reduce the duration and severity of illness. Mitigation strategies helped control spread, while contingency strategies helped manage outcomes once infection occurred.

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