This paper takes a somewhat different track by highlighting the significance of risk management in influencing construction practices. As such, it's clear that risk management isn’t merely an afterthought in the field; it affects the process by which structures are conceived and built. This article discusses the significance of risk management in the field of construction engineering and will imply that there are some methods or procedures that can reduce vulnerability. It is common knowledge that construction projects are vulnerable to a high level of risk, which cannot be disregarded but may be handled effectively. Many facets of risk management, such as identification, risk analysis/assessment, response, and control, have been the focus of research in several fields. This paper aims to guide future directions and provide the available literature on risk management from a holistic perspective. To accomplish this aim, a comprehensive literature review was carried out. This review discusses where more research could be done, what areas researchers have focused on and which ones they have not, and what trends have developed over the years. Construction engineering is a discipline that is constantly developing to keep up with the shifting demands placed on it by society. In this paper, the authors discussed the significance of risk management showcasing approaches that can be taken to lessen the impact that risks have on the design of buildings, the role that advances in technology play in making risk management more effective in the building industry (Darwish in Eur J Bus Manag 7(15), 2015) [1]. Risk management is an integral part of construction engineering because it helps find, evaluate, and reduce any risks that could affect the success of a project. Good risk management is one of the most important ways to ensure a project is finished on time and makes money (Moshtaghain and Noorzai in Integration of Risk Management Within the Building Information Modeling (BIM) Framework, 2022) [2]. They explain that it is the job of project managers to do a thorough risk assessment at the start of a project to find and evaluate any possible risks that could affect the project's goals. As a result, it is essential for project planners, such as Construction engineers, to prioritize risk management to maximize the likelihood of a successful outcome and reduce any potential financial losses (Lambrinoudakis et al. in Interoperable EU Risk Management Framework, 2022) [3].