What does a project manager do when the impact of identified risks is low and no action is taken?

When the impact of identified risks is low and the project manager chooses not to take any action, the project manager is opting to accept those risks. Acceptance means acknowledging that the potential risk exists but determining that it does not pose a significant threat to the project's objectives. This approach is typically used for risks that are unlikely to occur or, if they do occur, will have minimal impact on the project's overall performance.

In projects, it is often impractical or costly to eliminate all risks, especially when the risks involved are minor. Therefore, accepting the risk allows the project manager to focus resources and efforts on more significant threats that require mitigation or other risk response strategies. This approach exemplifies efficient resource management and prioritization in project management.