Risk management in construction projects, particularly in dam construction, has gained increasing global importance due to the significant impact of risks on project time, cost, and quality. This study employed a questionnaire-based survey targeting project managers, engineers from contracting companies, and specialists from client organizations to identify and analyze 37 potential risks associated with rubber dam construction projects. Using probability (P) and impact (I) values to calculate the dimensionless P×I metric, 11 major risks with P×I ≥ 0.28 were highlighted, with financial issues such as inflation, price increases, and lack of continuous funding being the most critical. Risk response strategies, including acceptance, transfer, avoidance, and mitigation, were applied, and continuous monitoring and control provided positive feedback, helping to minimize negative impacts. The study concludes that effective planning, stakeholder coordination, and proactive risk management during implementation are essential for supporting project managers in addressing critical areas and ensuring the successful delivery of rubber dam projects.