Risk Acceptance

For each risk that we accept, we must construct a ContingencyPlan. The plan gives us the impact in terms of budget and schedule time of the risk. We then use the RiskExposure to add an amount to our RiskReserve which balances the risk we are willing to take on the project.

Unlike RiskMitigation, we only pay for RiskAcceptance if the risk materialises before it expires. If the risk fails to materialise we can reclaim the budget and schedule time allocated to it from the RiskReserve.

See AnatomyOfRisk, RiskManagement