Which of the following is NOT considered a strategy of risk mitigation?

Risk assessment is a process used to identify, evaluate, and prioritize potential risks but is not itself a strategy for mitigating those risks. Rather, it serves as a foundational step in the risk management process, allowing organizations to understand the potential impact of various risks and to make informed decisions about how to address them.

The strategies of risk mitigation, which include risk transference, risk avoidance, and risk limitation, involve specific actions taken to reduce the likelihood or impact of identified risks. For instance, risk transference involves shifting the financial burden of a risk to another party, such as through insurance. Risk avoidance entails altering plans to sidestep any potential risks altogether. Risk limitation focuses on implementing measures to reduce the severity or impact of a risk if it occurs.

By understanding these distinctions, it's clear that risk assessment functions as a critical analytical tool in the broader context of risk management, while the other options listed represent actual approaches to reducing or managing risks.