Which of the following is NOT a type of risk response strategy?

Focusing on the identification of risk response strategies, the concept of eliminating the risk often sounds appealing; however, it is not typically classified as a distinct risk response strategy in formal risk management practices. Instead, the aim is generally to reduce, accept, or transfer risk rather than eliminate it completely.

Mitigation involves taking actions to reduce the impact or likelihood of the risk occurring. Accepting the risk means acknowledging that a certain level of risk is tolerable, often when the cost of mitigating it is higher than the risk itself. Transferring the risk involves shifting the burden of the risk to another party, typically through insurance or outsourcing.

Elimination, while theoretically ideal in certain scenarios, is not often practical or feasible within many risk management frameworks, as most risks cannot be entirely removed from an environment. Thus, it does not serve as a recognized strategic response in the same way that the other options do, reaffirming its distinction from accepted risk management practices.