Which of the following risk response planning techniques is associated with threats and seeks to reduce the probability of occurrence, or impact of risk below an acceptable threshold?

Risk avoidance changes the project plan to eliminate the threat or its conditions entirely, rather than reducing it below an acceptable threshold.

Risk transference shifts the financial impact of a risk to a third party such as an insurer, but does not reduce the probability or impact of the risk itself.

Risk mitigation involves implementing actions to lower the likelihood that a threat occurs or to reduce its impact if it does occur. It directly targets reducing probability, impact, or both, and is distinguished from other threat responses by its goal of bringing risk to an acceptable level rather than eliminating or shifting it. It is one of the four primary strategies for negative risks in PMI's risk management framework.

Risk acceptance acknowledges the risk and takes no proactive action to reduce its probability or impact, simply tolerating it if it occurs.