Which strategy involves continuing an activity while mitigating associated risks?

The strategy of continuing an activity while mitigating associated risks is best embodied by risk reduction. This approach focuses on identifying potential risks that could have negative impacts and implementing measures to lessen their likelihood or impact. For example, a healthcare institution may implement stricter sanitation protocols to reduce the risk of hospital-acquired infections while still providing patient care.

Risk avoidance, on the other hand, involves completely eliminating the activity that presents the risk, which does not align with the idea of continuing the activity. Risk transfer entails shifting the risk to another party, such as through insurance, which also does not involve continuing the activity directly but rather offloading the risk to someone else. Risk acceptance acknowledges the presence of risks but involves proceeding with the activity without any special measures to mitigate those risks, which does not actively address the potential for loss or harm. Thus, risk reduction is the most appropriate strategy for the scenario presented, as it allows for ongoing operations while proactively managing associated risks.