A Response Strategy is a high-level approach to address an individual risk or overall risk, broken down into a set of risk actions.
It provides a structured plan for how threats or opportunities will be handled, aligning specific risk responses with project objectives and stakeholder expectations.
Key Characteristics
- Strategy-Driven – Guides the selection of specific risk actions
- Tailored by Risk Type – Separate strategies exist for threats and opportunities
- Proactive and Reactive – Can be applied in advance or in response to emerging risks
- Part of the Risk Response Plan – Informs and organizes tactical execution
Example Scenarios
- Choosing an avoidance strategy to eliminate a risk by changing the project scope
- Selecting an exploitation strategy to maximize a time-saving opportunity
- Implementing a transfer strategy by purchasing insurance for a high-cost threat
Role in Risk Management
- Aligns Actions with Objectives – Ensures responses support broader project goals
- Improves Planning Coherence – Structures how risk actions are prioritized and executed
- Supports Communication – Clarifies intent behind response decisions for stakeholders
- Feeds Into Monitoring and Control – Enables performance tracking of risk handling
See also: Risk Response Plan, Mitigate Risk, Enhance Opportunity, Threat, Opportunity.