Effective risk management and cashflow monitoring are globally critical for construction project success. This study develops a risk assessment model integrated with Power BI for real-time monitoring of cashflow and schedule tracking, ensuring efficient and risk-free project management. The research begins with a bibliometric survey to analyse existing studies on risk assessment and cashflow automation, identifying research gaps and industry trends. It identifies key risks, including financial, scheduling, technical, and environmental, and examines their relationship with payments and delays. A weighted risk assessment model evaluates individual risks’ impact on cashflow and timelines. Power BI is employed to visualize real-time data trends, enabling stakeholders to identify deviations and take corrective actions. Case studies and simulations validate the model’s effectiveness, while interactive Power BI dashboards offer dynamic insights for decision-making. Notably, unused contingency funds are reallocated to budgets when risks do not materialize, optimizing resource utilization. The findings show that integrating risk assessment with cashflow automation enhances transparency, minimizes delays, and supports informed decisions. The study recommends adopting such systems industry-wide and emphasizes the need for training in tools like Power BI to overcome implementation challenges.