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In project management experience, with the risk factors continuously increasing, the risk has become one of main reasons leads to project defeat. As managers of the project, they should pay more attention to risk management than ever. After surveying the uncertainties and risk factors hidden in whole process of construction, this paper comprehensively describes the project risk and constructs a project risk decision table, then reduces it with rough set theory to obtain the minimal decision-making rules. With the help of the new approach, the implied knowledge can be explored to support investor to evaluate and forecast the project risk rapidly, so the decision-making could be more correct.