The paper has assessed risk management practices for risks identified in Quick Quality Construction P.L.C at Addis Ababa. The study has given focus to risk management practices which has been ignored by the construction Industry.rnThe study used descriptive analysis techniques; the population of the study was determined to be 60 respondents working actively on projects at QQ. Closed-ended questionnaires were administered to respondents while interview with three project managers is also carried out. The questionnaires covered main aspects of risk management practices including categories of risks that are mostly occurring in the company during the construction phases, pre-risk management practices that are implemented to manage the identified risks, the risk management practices that are implemented during the occurrence of the identified risks and post-risk management practices that are implemented after the risks have occurred. The data were entered to Excel and interpreted and analyzed by SPSS version 20 software program. Triangulation was used to analyze the data collected from the questionnaire and interview.rnThe finding of the study indicated that there are some pre- risk management practices in the absence of post risk management practices, that means there is no documented policy or guideline on how to handle a certain similar risk, there is also lack of responsible person and department to manage risk. Unfortunately risk is managed by project managers since it is seen as a common crucial activity for project managerâ€™s to have specialized risk management team. Even though in the company there is an attempt to manage risks it has been undertaken spontaneously rather than scientifically. Some recommendations were given among them the construction company shall give weight establishing the risk management office, by recruiting new expertise and also providing training for the staffs.