Mitt Romney on Monday will accuse the Obama administration of fundamentally misunderstanding the threat of radical Islam, using a major foreign-policy speech at the Virginia Military Institute to say President Obama is rejecting six decades of bipartisan consensus by not flexing more U.S. muscle on the world stage.

And after delaying for nearly a month, the Republican presidential nominee will sharpen his attack about the way Mr. Obama handled the assault on American diplomatic posts in Egypt and Libya.

According to excerpts, he will say the president’s first reaction was to blame an Internet video mocking Islam, and only belatedly to spot “the deliberate work of terrorists who use violence to impose their dark ideology on others.”

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