Difference between Mitigation, Mitigation Strategy, and Response Plans

[Strategy Table]

What is the difference between mitigation, mitigation strategy, and response plan? Should I be using one over the other?

[Intaver Support]

One thing to consider is whether you are performing qualitative or quantitative analysis. The risk system and interface changes depending upon which methodology you are using. The Risk System itself is configurable from properties (columns) in the views to risk scoring methods, severity ranking etc. These settings are here in the Risks tab on the ribbon.

Mitigation Strategy is a optional field that can be used to add description in the Risk Register view as opposed to in the Mitigation/Response view.
Mitigation is a plan that is assigned to a risk to minimize either the chance or impact of a risk. Includes changes to impacts or probability with dates. Mitigation are assigned to risks in the Waterfall chart. This will appear in the Mitigation/Response View. More complete data can be added to mitigation plans in the Assign Mitigation View.

Response the is cost and time to recover from a risk. Once added to the Mitigation and Response view, the plan can be linked to the risk in the Risk Form. Once linked the cost of the Response Plan will be added to the Cost of Mitigation calculations in the Risk Form