The net return and risks of a construction project are two critical factors that influence its ultimate success and the value it provides. Construction project success cannot be achieved in the absence of thorough risk assessment and proactive risk management during the valuation and implementation stages. Risk identification is an important part of the Value Management (VM) process at each review stage, and responding to risks at each review is an important part of achieving project value. Propose a risk assessment process that shows the effectiveness of coordination between value management and risk management in a construction project.