Abstract: China has the most water projects in the world. Owing to uncertainties of large water projects in particular, the engineering design, construction and running have huge impact on the national economy, social and ecological environment. On the basis of dam breaking cases in China and abroad, the risks in safety, society, and environment were analyzed. Risk factors of large water projects, risk classification and risk grade were discussed. With the Three Gorges Project as a case study, the risk factors and risk types of large water projects were discussed. Methods and strategies of risk control and risk management that are fit for China were also put forward.

Key words: water conservancy project, risk analysis, system risk, engineering insurance, risk , control