Providing product-service systems (PSS) entails increased risks for manufacturing companies as they shift from transaction to relational engagements with customers and assume operational responsibilities for customers’ processes. This study proposes a PSS risk management decision tool, which enables global manufacturing companies to more proficiently manage risks to offer PSS successfully. The results are based on a case study with a Swedish manufacturing company that has long-term experience with providing PSS. The study’s main findings include identifying and proposing an interconnection between risks associated with providing PSS, possible risk responses, and decision criteria that enable decision-makers to select appropriate risk management responses.