The risk owner is the designated individual accountable for monitoring an assigned risk and for implementing the agreed-upon risk response plan should the risk event occur. This role is central to effective risk management as it ensures clear responsibility and timely execution of strategies. While the program manager oversees the entire risk management process, the tactical implementation of a specific response is delegated to the risk owner who has the appropriate knowledge and authority to manage that particular risk.

A. Key stakeholders have an interest in the program's outcome but are not automatically assigned the duty to execute risk responses.

B. The project manager (or program manager) is responsible for the overall risk management process, but delegates the execution of individual responses to risk owners.

D. The project sponsor provides high-level governance, funding, and strategic direction, but is not involved in the operational execution of risk plans.

1. Project Management Institute. (2017). The Standard for Program Management (4th ed.). Section 5.5

Implement Program Risk Responses

p. 79. The text explicitly states

"Implementation of agreed-upon risk responses is the responsibility of the risk owners."

2. Project Management Institute. (2017). The Standard for Program Management (4th ed.). Glossary

p. 171. Defines "Risk Owner" as "The person responsible for monitoring the risk and for selecting and implementing an appropriate risk response strategy."

3. Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (6th ed.). Section 11.6

Implement Risk Responses

p. 453. This section states that a key aspect of this process is that "The project risk owners should be involved in developing the risk response and should be assigned the responsibility to implement the response."