What is the term for taking steps to reduce the likelihood of a negative outcome?

The term that accurately describes taking steps to reduce the likelihood of a negative outcome is risk modification. This approach involves implementing strategies that can either diminish the probability of a risk occurring or lessen its impact if it does happen. For instance, this could include enhancing safety measures, increasing training, or changing processes to mitigate potential issues.

In contrast, risk acceptance involves acknowledging a risk and deciding to proceed without implementing any controls, essentially accepting the consequences if the negative outcome occurs. Risk transfer refers to shifting the burden of a risk to another party, such as through contracts or insurance, rather than modifying or addressing the risk directly. Risk avoidance is the strategy of completely removing the risk by eliminating the activities that create the risk altogether, which does not allow for continued operations in the same way as modifying risks does.

Thus, the focus of risk modification is specifically on proactive efforts to lessen the chance of negative outcomes occurring, making it the correct term in this context.