Project Risk Response Planning determines appropriate strategies—avoid, mitigate, transfer, or accept for threats; exploit, enhance, share, or accept for opportunities—and defines concrete action plans for each significant risk. Effective responses are timely, cost-effective, realistic, and aligned with stakeholder risk tolerance. Each response has an assigned owner, timeline, and budget. During a hospital construction project, the team developed response plans including pre-ordering long-lead medical equipment to mitigate supply delays, purchasing weather insurance to transfer schedule risk from hurricanes, and accepting minor finish variation risks below defined thresholds.