Hydroelectric projects are among the most important sources of renewable energy generation and play a vital role in the sustainable development of a country. However, these projects are characterized by significant uncertainties and complexities arising from geological, environmental, financial, technical, socio-political and managerial factors. Effective risk management is therefore essential to ensure successful project delivery within the desired time, cost, quality, safety and environmental performance objectives. The present study focuses on the identification, assessment, ranking and management of critical risks associated with hydroelectric projects in the Indian context. A comprehensive literature review was carried out to identify potential risk factors, followed by a structured questionnaire survey involving professionals such as project managers, construction managers, engineers, consultants and contractors engaged in hydroelectric projects. The collected responses were analyzed using Risk Probability Index (PI), Severity Index (SI), Risk Potential Value (RPV) and Risk Assessment Matrix techniques to evaluate the significance of individual risks. The analysis revealed that land acquisition issues, rehabilitation and resettlement challenges, unforeseen geological conditions at tunneling locations, flooding and extreme precipitation events, labour strikes, adverse geological formations, difficult site accessibility, project time constraints, natural disasters, and financial resource shortages are among the most critical risks affecting hydroelectric project performance. These risks have a significant impact on project schedule, cost, quality, and overall project success. Based on the findings, appropriate risk mitigation and management strategies have been proposed to reduce the likelihood and consequences of identified risks. The outcomes of this study can assist project owners, consultants, contractors, policymakers and stakeholders in developing proactive risk management frameworks for improving the performance and sustainability of future hydroelectric projects.

Keywords: Hydroelectric Projects, Risk Assessment, Risk Management, Risk Potential Value, Risk Mitigation, Construction Management, Project Performance, Sustainable Development.