The article focuses on the identification and classification of key risk management criteria that represent the value creation and protection aspects for the construction industry. Nowadays, the assessment of the risk level of a construction project is especially important for the quality of construction projects as well as the growth of enterprises and the sector. To establish the most important criteria for the successful growth of the construction sector including value creation and protection aspects are developed.

Construction works are among the riskiest activities in Lithuania. To develop a sustainable environment at a construction site, risk factors must be first identified and then eliminated. Each case of a construction site, construction conditions and the project environment is unique. Thus, risks must be individually assessed considering distinguishing features of the construction works and the environmental conditions. Consequently, preconditions exist for the development of a new risk assessment model comprising risk assessment norms, the construction project and conditions of the construction processes. Expert evaluation and the TODIM method were used for the risk assessment of finishing works. Two construction sites were used to assess construction risks related to finishing works. The article presents risk assessment results based on the riskiest job at a construction site of finishing works as well as the line of priorities of the riskiest workplace.