Over the last few years, increasing interest in the field of risk management, tools and techniques in the construction sector has been witnessed. This study aims to identify current and state-of-the-art techniques and synthesize quality attributes, objectives, and evaluation methodologies for implementing risk management tools in the construction sector. We used a systematic literature review (SLR) methodology after exporting 53 related papers from the Web of Science (WoS) database. Furthermore, the Nvivo analysis software was used for data coding and qualitative analysis. A review scope was primarily devised based on research goals and to uncover potential search strings. In addition, through research identification and key data extraction, we found that the research in this domain has increased due to the direct and robust effects of risks during project implementation and the appearance of new risks that must be dealt with over the last three years. Although a few studies were based on empirical studies, scientific and empirically validated methodologies are still needed in this domain. Construction professionals, researchers, and decision-makers can utilize this information to make educated decisions on risk management tactics and procedures. Finally, the study may indicate future research fields by emphasizing the need for additional development and improvement of existing tools and approaches.