At this point, designated risk owners are required to secure, coordinate and deploy necessary resources in order to implement planned risk response strategies and bring risks within the defined risk tolerance thresholds. Risk response planning and implementation processes overlap significantly, and frequent iterations of the planning process should be performed as new risk information becomes available. In some instances, risk response implementation can be a demanding and turbulent process that requires strong leadership, effective time management and practical application of project management tools and techniques. To maximize the use of their time and increase the chances of success, the risk owners can apply the best risk response implementation practices outlined below.
Despite best efforts there are times when implementation activities still get in trouble and start spiraling out of control. The risk owners have to make an honest appraisal of the situation, check all task interdependencies, identify the root causes of the problem, obtain agreement and support from relevant stakeholders, develop viable corrective action plan, and make required changes swiftly to bring the implementation activities back on track. It is often necessary to adjust resource levels, reaffirm assigned authority to make decisions, restore morale and confidence of the team, and put increased emphasis on stated objectives. If the selected risk response strategy is not feasible in the long run, the original planning and decision rationale should be examined and alternative options explored to address the risk.