Risks may be viewed as negative or positive. Negative risks are those that might impact the ability to reach project goals. Positive risks are those that can be exploited, as opportunities, for positive benefits.
Responses to negative risks may include the following: transfer the risk, avoid the risk, reduce the risk, share the risk, increase risk tolerance, accept the risk (do nothing). In some cases, risks cannot be avoided, mitigated, transferred or shared. In such cases, potential risk impacts must be accepted. This is usually the most inferior response to project risks.
Responses to positive risks (opportunities) may include the following: exploit the risk, share ratios, and enhance the risk. Enhancing a risk involves the pursuit of activities that might produce a greater return-on-investment. This is accomplished by strengthening or maximizing the chances for a positive benefit.