What is the meaning of Risk Owner?

A Risk Owner in project management is similar to the guardian or caretaker assigned to oversee a possible problem or uncertainty in a project, similar to entrusting someone with the care of a pet. The Risk Owner is the individual who is responsible for managing a given risk. They are in responsibility of comprehending the risk, determining how to manage it, and ensuring that the essential activities are made to either prevent it from occurring or mitigate its impact if it does occur. It’s similar to designating someone to keep an eye on a certain issue and take care of it to guarantee the project continues on schedule.