For high severity risk, I would use avoidance. I want to get rid of the high severity risk. The best way to do this is by avoidance because mitigation just lowers the risk of it happening, acceptance is just accepting it and transference still lets it happen. Avoidance and getting rid of the problem is the best solution when you know the consequence is high severity if it happens. For low severity risk, I would just lower the risk of it happening with mitigation. I don’t think I would ever just accept a risk. At the bare minimum I would mitigate the risk. I don’t like to give a problem to someone else so transference is also not really an option for me.

I think acceptance doesn’t reduce the risk level out of these four and I would never use it. Again, at the bare minimum, I would at least mitigate the risk.