There are seven risks responses that a project manager can choose from. Which risk response is appropriate for both positive and negative risk events?

Acceptance acknowledges that a risk exists but the project team decides not to change the project plan to deal with it, either actively (developing a contingency plan) or passively (doing nothing and accepting the outcome). For threats, this means tolerating the potential negative outcome; for opportunities, it means being willing to take advantage if the opportunity arises without actively pursuing it. No other strategy is formally defined for both categories in the PMBOK framework.

Sharing is a positive risk response strategy only; it involves allocating ownership of an opportunity to a third party better positioned to capture its benefit.

Transference is a negative risk response strategy only; it shifts the burden of a threat to a third party such as through insurance or outsourcing.

Mitigation is a negative risk response strategy only; it reduces the probability or impact of a threat and has no equivalent application to positive risks.