This research book gives information about identification of risk factors and perceptions of Indian construction practitioners. i.e., Contractors, Owners, Project Managers and Engineers on the importance of different construction risks and how the risks should be assigned between the different parties of the contract. As the very common project styles, construction projects have so many characteristics likewise time limitation, specific items, financial restrictions and requirements, extraordinary structural and legal situations, complexity features. For this situation, every construction project has own complex method. Risks constantly happen at construction projects and frequently cause time overrun or cost overrun. If you don¿t consider these risk factors, or neglect the main factors, these risk factors will affect the damage because of the managerial errors. Risk management is the process which covers to identify the risks, for assessment with the help of qualitatively and quantitatively, to response with appropriate technique for management and controlling. The concept has gain popularity in various industries.