Dhairya,

For low severity of risk I would choose acceptance. If a risk is acceptable, it should be low by default. High risk items should be mitigated down to a medium or low risk whenever possible. I don’t think avoidance reduces the risk level out of the severity of a risk. I view avoidance as brushing something under the rug and hoping it won’t come back. I’ve always been a believer that you need to face the reality of any situation. I don’t believe there is a thing as an unmanageable risk. Everything is always manageable, even if a high risk has to be categorized into another type of high risk, perhaps it could be managed in a different category or through a different method but should never be avoided.