This study examined the relationship between risk management strategies and the project performance of selected non-governmental organisations (NGOs) in Karenga Sub-County, Karenga District, Uganda. NGOs implement development and humanitarian projects in challenging environments, and effective risk management is widely regarded as essential to project success, yet its contribution among Ugandan NGOs remains under-examined. The study investigated how risk identification, risk assessment, risk mitigation, and risk monitoring relate to project performance. A cross-sectional survey design with a mixed-methods approach was adopted, and data were collected from 170 respondents comprising NGO project managers, project staff, and beneficiaries using structured questionnaires and interviews. Descriptive statistics, exploratory factor analysis, Pearson correlation, and structural (path) analysis were used. Factor analysis confirmed the construct validity of the risk management dimensions, which loaded onto coherent factors and explained 68.7% of the variance. The results revealed a strong positive and significant relationship between risk management strategies and project performance (r = 0.68, p < 0.01), with the strategies jointly explaining 66.0% of the variance in project performance (R² = 0.660). Risk mitigation (β = 0.32) and risk monitoring (β = 0.30) emerged as the strongest path predictors. The study concludes that risk management significantly enhances project performance and recommends strengthening risk mitigation, monitoring, and identification.