The geotechnical risks that can affect projects result from a range of hazards associated with geological conditions and geological processes, but also from hazards associated with the geo-engineering process. For example, active faults identified during pre-feasibility studies will pose one type of hazard, whereas a management decision to limit the extent of a site investigation to save money will pose another type of hazard. A systematic assessment of the nature and the source of the various hazards may be used to differentiate the types of geotechnical risk. Examples from projects are provided and some statistics are presented, to indicate the rates of occurrence of the various types of geotechnical risks in projects. Some established approaches to managing geotechnical risks in projects are noted.