risk$-$based decision$-$making theory forms the foundation for project planning and execution. This theory emphasizes the systematic identification, analysis, and management of potential risks associated with infrastructure projects. Through rigorous risk identification, encompassing hazards from natural disasters, design flaws, construction defects, environmental factors, and human error, engineers can anticipate challenges and develop proactive mitigation strategies. Subsequent risk analysis, employing quantitative methods like probabilistic modeling and qualitative assessments via expert judgment, aids in prioritizing risks based on severity. Risk assessment then evaluates these risks against safety standards, regulatory requirements, and stakeholder preferences, guiding the selection of appropriate risk management strategies such as avoidance, mitigation, transfer, or acceptance.