Which of the following is NOT one of the four principles of risk management?

The principle of risk management that states to "Accept all risks" is correct for being identified as NOT one of the four principles of risk management. The essence of risk management is to identify, assess, and mitigate risks rather than to accept them without consideration. Effective risk management recognizes that not all risks can be or should be accepted—this would lead to potentially dangerous situations where adverse outcomes might occur without appropriate planning or mitigation strategies in place.

In contrast, integrating risk management into operations and planning promotes a proactive approach to identifying and addressing risks before they can negatively impact missions or objectives. Similarly, applying the risk management process cyclically and continuously helps organizations stay adaptive and responsive to new threats or changes in their environments, ensuring that risk assessments are always up to date. Making risk decisions at the appropriate level underscores the importance of accountability and expertise at various levels of an organization, ensuring that decisions are made informed by the context and potential impact of risks.

Overall, accepting all risks is fundamentally at odds with the proactive and comprehensive nature of effective risk management.