Risk Response is an action, planned or implemented, to address particular threats and opportunities.
It operationalizes the chosen strategy for managing individual risks or overall risk exposure, ensuring that appropriate measures are taken to reduce threats or enhance opportunities in alignment with project or organizational objectives.
Key Characteristics
- Strategy-Based – Derived from selected risk response strategies
- Targeted – Addresses specific risks or risk categories
- Can Be Proactive or Reactive – Planned in advance or triggered by risk events
- Tracked for Effectiveness – Monitored through execution and updated as needed
Example Scenarios
- Implementing additional testing procedures to mitigate technical risk
- Signing a fixed-price contract to transfer cost overrun risk
- Adjusting delivery plans to exploit a market opportunity
Role in Risk Management
- Enables Execution of Strategy – Translates planning into concrete action
- Supports Risk Control – Helps manage residual and secondary risks
- Improves Responsiveness – Allows dynamic adjustment to evolving risk conditions
- Integrates With Risk Register – Ensures visibility and accountability for all responses
See also: Risk Response Plan, Risk Action, Risk Strategy, Risk Owner, Monitor Risks.