Droughts need not always cause humanitarian and economic disasters. Their effects on vulnerable communities and ecosystems can be mitigated by human institutions and actions. Preparedness for drought risks and mitigation of them can involve a range of different sectors and strategic entry points from water conservation and natural resource management to multi-hazard approaches, public education and conflict resolution. In light of the wealth of mitigation measures available, this knowledge product offers an overview of current and best practices. It has been developed in partnership with the Integrated Drought Management Programme (IDMP) and in consultation with its many partners. Mitigation of drought risk and impacts is an essential element of Integrated Drought Management (IDM). This knowledge product is conceived as the second in a three-part series reflecting the established three pillars of IDM: (I) effective drought monitoring and early warning systems; (II) vulnerability and impact assessment; and (III) drought preparedness, mitigation and response. It builds on a previous IDMP publication that reviewed practices and policy recommendations for drought impact and vulnerability assessment. The following three types of measures for managing drought risks are explored: prevention, mitigation and preparedness; response and recovery; and transformation.