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What Is the Difference Between Mitigating a Risk and a Contingency

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Essay

What is the difference between mitigating a risk and a contingency plan? Provide real life examples that illustrate the difference.


Definitions:

Documentation

The act of recording and maintaining detailed records of activities, transactions, or observations for verification, tracking, and compliance purposes.

Narcotics

Drugs that relieve pain and often induce sleep, potentially leading to dependency or abuse; also known as opioids.

Felony

A serious crime, typically one involving violence, and is more severe than a misdemeanor, leading to higher punishment.

Misdemeanor

A type of criminal offense that is less serious than a felony, usually punishable by a fine, probation, or short-term incarceration.

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