"I was the construction manager on a large residential home project, and my clients were out of the country and could not be reached. We were at the point where the tile was scheduled to be installed, and I received a call saying the tile the clients chose was discontinued. I had to risk choosing a different tile to stay on schedule since we were to have the home completed before the clients returned. The risk was that they might not appreciate me making that decision for them, but I had no other choice if we wanted to meet the deadline. I picked out a tile close to what they had chosen and had the crew install it. When the house was completed and the clients returned, they were pleased with my decision and said they liked the tile I chose better than what they had picked out."

You want to avoid describing a risk that the interviewer might feel could detriment their company if they hire you. If you describe a risk that could cost the company a large amount of money or their reputation, they might be hesitant to consider you for the job.