Risk Acceptance

Risk Acceptance is a risk response strategy whereby the project team decides to acknowledge the risk and not take any action unless the risk occurs. See also risk avoidance, risk enhancement, risk exploiting, risk mitigation, risk sharing, and risk transference.

Definition

According to the PMI Lexicon of Project Management Terms,

Risk Acceptance. A risk response strategy whereby the project team decides to acknowledge the risk and not take any action unless the risk occurs. See also risk avoidance, risk enhancement, risk exploiting, risk mitigation, risk sharing, and risk transference.