When should a risk be

Solution

Risk mitigation: Once the risks have been identified and assessed, the possible ways to manage the risk may fall into one of the following major actions: a)    Avoid (eliminate, withdraw from, or not become involved) b)    Reduce (optimise-mitigate) c)    Share (diversify-transfer-outsource or insure) d)    Retain (accept and contain)   When the risk event is unacceptable-generally one with a very high probability of occurrence and high impact, the risk mitigation strategy can be to avoid.