This book presents a critical analysis of project risk management and significant impacts of its application on the success of a specific project’s delivery. It identifies different types of project risk management processes and frameworks used by construction projects. The main purpose is to explore, describe and analyze the perceived risk management in practice. Managing risks has been recognised as a very important project management process. The study will examine and evaluate the risk management process in specific phases of Lehe Home project and essentially analyze the empirical findings. Finally, the study generalizes and develops the project risk analysis and management and suggests for public sectors to help project managers to make better decisions under risky conditions.