Differentiate between risk planning, risk avoidance, risk reduction, risk acceptance?

Risk Planning: Risk planning is the process of identifying, prioritizing, and managing risk.

Risk Avoidance: Risk avoidance is the elimination of hazards, activities and exposures that can negatively affect an organization's assets.

Risk reduction: One of the major risk management techniques. Taking precautionary measures to reduce the likelihood of a loss, or to reduce the severity of a possible loss, for example, installing a security system.

Risk Acceptance:  A risk management method used in the business or investment field. Accepting risk occurs when the cost of managing a certain type of risk is accepted, because the risk involved is not adequate enough to warrant the added cost it will take to avoid that risk.