Risk management in construction industry is not at all an easy process. Because risk causes different problems in cost, quality and time. If risks are not managed properly, sequence of works will get affected in construction sites. This paper clearly explains about six types of risks, their causes and serious issues faced by Contractors, Project managers and engineers. Hence questionnaire has been prepared to find out the root causes of risks and where it comes from..Experts shared their views and some ideas through interview to reduce the risks. Thus risks are identified, quantified, and suggestions have been given to minimize or control the risks.