Acceptance involves developing a contingency plan and establishing a financial reserve to deal with risks that cannot be avoided, reduced, or transferred. It is the risk response strategy used when other options are not feasible. The amount reserved should be based on calculating the probability and potential impact of the risk occurring.

1. Acceptance
(risk response)
When you can’t find another response
1. Develop a contingency plan
2. Establish amount of reserve
based on probability and severness
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