Establish the Risk Management Strategy

Once the environment is understood and thresholds are confirmed, the risk manager needs an actual strategy — the processes, tools, templates, and metrics the team will use to manage risk going forward, not just a one-time assessment. This includes identifying risk categories relevant to the project (technical, external, organizational, project management, and so on) so risks can be meaningfully grouped and analyzed later, rather than treated as one undifferentiated list.

A named leadership style shows up directly in this task: the risk manager coaches and mentors the team on risk management best practices through servant leadership — leading by supporting and enabling the team's own risk competence, not by issuing top-down mandates. Once the strategy exists, it still has to be adopted; leading stakeholders to actually adopt the risk strategy, rather than quietly tolerate it, is the last piece.

Study focus: PMI explicitly ties servant leadership to this task. If a question describes a risk manager imposing a rigid process on an unwilling team versus one who coaches the team toward embracing it, the coaching answer is the one PMI is testing for.