my pacing strategy sucks really but here goes:
as a training block/season approaches an end, and a 5k race nears I rely on recent workouts to dictate my pace
eg if a recent 3x1 mile repeat workout on 90s rest suggests my proposed race pace is in the cards, I try to go out on 5k 'B' pace for mile 1 [adjusted for weather or if this is a road course, a couple seconds for crowding], eg normally target pace +10s for the first mile
say 20:00 5k is 6:26 pace right? So target 6:35 for mile 1
Mile 2 try to come in at/about goal pace [~6:25 -- 6:30]
right around mile 2.0 //2.1 have a gut check, yes based on the above you're about 15s off pace but hey, this is where you can go goal-pace or under if you're in to it.
Mile 3 sucks no matter what, in it to win it. Go for goal pace or goal-pace -10s/mile here
with the remaining ~400-500m of the race, hit your ~mile RP [normally this is say 5k goal pace -~25 or 30s], so this allows you to go for race pace by picking up the remaining 5-7s in the final 400m by 'running the last lap' at your ~mile capability
*note, I'm a late 40-something hobby jogger who can barely break 20 on a good day, but this is what I do. I blow most of my sub 20 attempts by taking mile 1 out at/about goal pace or -5s, I need a 5 second cushion there [neg. split] or I'm screwed. I'm not that tough