Leicester were frustrated by the Canaries for much of the afternoon at the King Power but Ranieri threw caution to the wind in the closing stages, taking off full-back Daniel Amartey and replacing him with an out-and-out forward in Leonardo Ulloa.
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The Sunday Supplement panel discuss the possibility of Ranieri winning the Premier League on the final day of the season at Chelsea
The move proved inspired, as Ulloa popped up at the back post to bag the winning goal in the 89th-minute.
And Ranieri says he will continue to adopt an aggressive approach, in the belief that the three points available for a win are worth risking defeat for.
"Yes, I took a lot of risks," said Ranieri. "I said: 'In or out, it's not important now.' One point is nothing, we have to win.
"You can lose but it's only one point less than a draw. Yes, we took the risk, but the manager is hired for this reason, to take a risk."
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Leandro Ulloa scored in the dying minutes against Norwich to give Ranieri's men a vital three points
However, Ranieri remains reluctant to talk up Leicester's title chances, although he says he may change his tune if Leicester fare well in their next four fixtures (West Brom [h], Watford [a], Newcastle [h], Crystal Palace [a]).
"I understand everyone asks if will we win the title?" said Ranieri "I don't know!
"Let me now get past the next four matches, then I might say something more. I can't tell you too much for another month."