The construction industry plays a pivotal role in economic development but remains highly susceptible to risks that compromise project success. Effective risk management is essential for the success of construction projects, particularly due to their intrinsic complexity and unpredictability. Risk management entails the systematic identification and evaluation of possible risks that could hinder the attainment of project objectives. Despite advancements in project management techniques, the industry continues to face issues related to risk management in construction industry. The risks might come from diverse sources, such as technical risks, financial risks, operational risks and stakeholder risks. Therefore, this research explores the determinant factors for project and risk management practices in the construction industry. This study employs a deductive approach, relying on existing literature to pre-determine the four primary variables: technical risks (TR), financial risks (FR), operational risks (OR), and stakeholder risks (SR). In addition, the four (4) main variables are further enriched by the identification of twelve (12) sub variables. The survey data is obtained using a web-based self-administered questionnaire. It is developed and disseminated to 130 practitioners in the construction industry. However, only 100 respondents were answered and completed. The collected data is further analyse using SPSS statistics version 21. The factor analysis has confirmed that only eleven (11) variables are maintained while design errors (TR1) is recorded below the required threshold value of significant factor loading. The research seeks to enhance strategies for managing risks in the construction industry, hence improving project outcomes for stakeholders including developers, contractors, clients, and communities.