Hi John,
Let's first revisit acceptance and mitigation. Risk mitigation is doing something
proactively,
in advance, to bring down the probability or impact of your risk. Risk acceptance is wherein we are
not doing anything in advance, however if I spot a warning sign or indication of a possible risk, then I will perform certain actions which will save my project from this risk. In this case we have identified some triggers or symptoms and have created an action plan, but we've not done anything more.
So how are these really different? In risk mitigations even if the risk does not actually occur, you are actually spending money, time, resources etc. prior to the risk occurrence, because you are doing things in advance to bring down the risk impact. However, in risk acceptance you are not spending money or time in advance but you are keeping them aside (allocating them as reserves), so that when you see those warning signs or indicators, you will use them and save your project from that risk event.
Now with this understanding, what do you think Eg 1 and 2 given by you would fall under?