The four T’s of risk mitigation are a set of strategies that organizations can use to manage risks. These include:

Tolerate: Accepting the risk as it is because the cost of mitigating it may be higher than the impact of the risk itself.

Terminate: Eliminating the risk entirely by changing the process or activity that is causing the risk.

Treat: Implementing measures to reduce the likelihood of the risk occurring or to minimize its impact if it does occur.

Transfer: Shifting the risk to a third party, often through insurance or outsourcing1.

The term ‘Trade’ is not commonly used within the context of the four T’s of risk mitigation.

References: The information is verified using the source from MHA Consulting, which details the four T’s process of risk control planning1.