In Gondar, Ethiopia, the building construction industry is subjected to risky situations that affect construction projects and therefore require systematic means to achieve project objectives and ensure time and money aren’t wasted. Most of the time, many buildings construction companies in Gondar, Ethiopia ignores the influence of practicing risk management can result in the success and achieving of a project’s goal. This study aims to assess the risk management practices on building project in Gondar city with typical construction project risk factors. Risk factors are present at every stage of the project, from design and planning through completion. To improve the success of building construction projects, risk factors must be recognized, assessed, and minimized in order for the projects to be completed on time, safely, and economically. This research involves the identification, classification, and assessment of risks in the construction of building projects using a Relative Importance Index (RII). Furthermore, risk factors were ranked according to their effects. The questionnaire was prepared in the form of a five-point Likert scale, i.e., 1-very low, 2-low, 3-moderate, 4-high, and 5-very high importance. A total sample of 32 questionnaires was distributed to the respondents in Gondar city, and 26 respondents returned the questionnaires.Inflation and changes in prices, Defective design, quality problems with materials, delayed payment to the contractor, and poor quality of work were the top five major risks in the building construction project and, Lack of scope of work definition, delays in obtaining site access, Labor strikes and disputes, accidents during construction, and changes in government laws and regulations were the five least harmful risks to the building construction project
