The effect of potential mitigation measures under discussion in the context of managing underwater radiated noise from ships is analyzed by means of a parametric study. These measures include slow steaming, route optimization (in terms of energy efficiency, weather conditions, or avoidance of sensitive areas), and source mitigation, characterized by intrinsic reduction in source level and aimed at achieving compliance with class notations (underwater radiated noise limits). The study focuses on specific scenarios such as the port-to-port routing of commercial ships in the North Sea and offshore service traffic related to maintenance and operation of offshore wind farms. The underwater radiated noise is computed via a parametric approach (linear model) based on input parameters over time, e.g., ship source level (among others as a function of ship type, length, speed, etc.), speed, position, etc. The exposure of marine mammals and the affected area are derived using frequency-weighted noise criteria (e.g., LF, HF hearing groups). Different acoustic evaluation metrics and approaches are analyzed and compared. On the one hand, the study shall outline promising parameters to adjust to efficiently minimize underwater noise; on the other hand, it aims to derive evaluation approaches to assess the effect of potential future regulations on underwater noise. The work we present is the outcome of ongoing research and development projects such as the Interreg project DEMASK in which the effect of potential developments and mitigation measures on underwater radiated noise within the North Sea is assessed.