A Risk Owner is the person responsible for monitoring the risk and for selecting and implementing an appropriate risk response strategy.
This individual ensures that the assigned risk is actively tracked, evaluated, and managed throughout the project or program lifecycle, and serves as the point of accountability for that specific risk.
Key Characteristics
- Accountable Role – Owns the outcome and handling of the assigned risk
- Decision Authority – Selects and initiates risk response strategies
- Coordinates Risk Actions – May delegate tasks to action owners while maintaining oversight
- Maintains Risk Visibility – Tracks status, escalates as needed, and updates the risk register
Example Scenarios
- A cybersecurity lead assigned as the risk owner for potential data breaches
- A project manager owning schedule-related risks and managing timeline adjustments
- A procurement officer responsible for risks tied to vendor reliability
Role in Risk Governance and Execution
- Enables Accountability – Clarifies who is responsible for addressing each risk
- Drives Timely Response – Ensures mitigation or contingency actions are executed
- Supports Monitoring and Reporting – Maintains current data on risk status and outcomes
- Improves Risk Integration – Links risk management directly to operational roles and decisions
See also: Risk Action Owner, Risk Response Plan, Risk Register, Monitor Risks, Responsibility Assignment Matrix.