Question

Anita contracts ValleyHeat Landscaping Corp. to landscape her hotel. Midway through the project, ValleyHeat informs Anita that due to internal issues the company is shutting down. To avoid this from delaying the opening of her hotel and causing her loss in hotel revenue, she contracts another landscaping company to finish the project on time. This scenario is an example of ______.

Answer 1

Mitigation

Step-by-step explanation:

Mitigation refers to elimination of those conditions and avoidance of those situations, which can lead to the possibility of heavy losses. In short, it refers to reducing risks and losses to the lowest possible level.

In the given case, Anita had to get her new hotel landscaped from Valley heat landscaping corp. The latter owing to it's internal issues had to shut down in the middle of the project.

As any delay in opening the hotel represents loss in the form of foregone income, she contacted another company to finish the project within time.

Thus, Anita tried to reduce and lessen i.e mitigate her losses in the best possible manner.