Which term describes the practice of removing or reducing risks in a project?

The term that accurately describes the practice of removing or reducing risks in a project is risk mitigation. Risk mitigation involves identifying potential risks and implementing strategies to minimize either the likelihood of the risk occurring or the impact it would have if it does occur. This can include actions such as modifying project plans, allocating additional resources, or putting in place contingency plans to address possible issues.

The goal of risk mitigation is to reduce the overall exposure to risks and enhance the likelihood of project success by proactively managing uncertainties. By focusing on this practice, project managers can improve project outcomes and maintain greater control over the project environment.