risk acceptance
/rɪsk əkˈsɛptəns/ · risk ac·cept·ance
noun
- The act of acknowledging and accepting a potential risk, often after weighing its likelihood and potential impact The company's risk acceptance policy allowed them to proceed with the project despite the potential financial risks.
Synonyms
risk tolerancerisk takinghazard acceptanceperil acceptancedanger acceptanceexposure acceptancevulnerability acceptance
Antonyms
Did you know? The concept of risk acceptance is closely related to the idea of the 'precautionary principle', which suggests that when there is a risk of harm, it is better to err on the side of caution and take preventive measures. This principle is often applied in fields such as environmental policy and public health.