Risk Acceptance
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Hello,
Do u know where i can get some articles or material abou Risck Acceptence Technique?
Regards.
Marcio Eduardo
Thanks a lot Colin, now it is clear to me.
Regards,
Marcio Eduardo.
It means that after considering possible treatments of a risk (transfer of the risk to someone else eg, through insurance, mitigation through reduction of probability and/or impact, or acceptance), the chosen treatment is to do nothing. That is, accept the risk.
This is normally done because the risk cannot be mitigated or transferred or the cost of doing so is not justified.
For example, the risk of an earthquake may be accepted because it is too expensive to do anything more about it (apart from designing to earthquake codes).