With this risk strategy, an organization can decide to accept the consequences if a risk occurs without trying to control it. In this situation, no mitigation strategy is deemed necessary, although you may set aside some contingency reserves for cost and schedule.
A) Risk avoidance
B) Risk acceptance
C) Risk transference
D) Risk mitigation

Question

Quizplus · Accepted Answer

Risk acceptance is the option to accept the consequences of a risk without implementing any mitigation strategies. This can be considered when the cost of risk avoidance or transfer is higher than the potential impact of the risk, or when the risk is considered low. However, it is important to set aside contingency reserves to cover any unexpected costs or delays.

With This Risk Strategy, an Organization Can Decide to Accept