What is a "risk mitigation strategy"?

A risk mitigation strategy is a structured approach designed to minimize the impact of identified risks on a project. This involves assessing potential risks, determining their potential effects on project objectives, and then implementing measures to either prevent the risks from occurring or to reduce their impact if they do occur.

The goal of such a strategy is to protect the project's success by being proactive about potential challenges. By identifying risks early and detailing specific actions to take in response, teams can enhance their resilience and ensure smoother project execution. This aligns with project management best practices that emphasize risk management as a critical component to achieving project goals on time and within budget.

In contrast to this option, other choices pertain to different aspects of project management that do not specifically focus on managing risks. For instance, enhancing project budget or delaying deadlines do not address risk directly, while terminating unproductive tasks relates more to efficiency rather than risk management. Therefore, the essence of a risk mitigation strategy lies in its purpose to specifically confront and lessen potential adverse impacts, which makes it the correct answer.