PMI Risk Management Professional Practice Exam

What does it indicate if a risk response strategy is marked as "accepted"?

1. The risk will be acted on during the project

2. The risk is not deemed significant enough to warrant action

3. The risk will be avoided altogether

4. The risk has already been transferred

The correct answer is: The risk is not deemed significant enough to warrant action

Marking a risk response strategy as "accepted" signifies that the risk is acknowledged but considered to be of a level that does not necessitate proactive action. This approach implies that the potential impact of the risk is low, or the likelihood of occurrence is minimal enough that the project team can proceed without implementing any specific mitigation or contingency measures. In other words, the project managers have evaluated the risk and determined it does not pose a significant threat to the project's success, allowing them to accept the risk as part of the project environment. Furthermore, this option reflects a common practice in risk management where resources are allocated efficiently; instead of devoting time and effort to address every possible risk, project teams prioritize their responses based on the severity and potential impact of those risks. This acceptance does not mean ignoring the risk completely; rather, it acknowledges it while monitoring its status, ensuring that the team can maintain awareness and respond if the risk evolves.