Risk is a potential which causes problems in the implementation of project and fulfillment of objectives. Risk is the innate part of all the projects and it is impossible to eliminate it completely though it can be managed effectively in order to reduce its effects on achieving the project’s objectives. It may occur in the future or not, but its occurrence at least affects one objective including area, time, costs or quality. Therefore identification, analysis and ranking of risk would play a significant role in the fulfillment of project. In this paper, we applied PMBOK Standard for identification of project risk for the construction of flyover junctions in Boushehr Province, and then we used Fuzzy AIIP Technique and Fuzzy TOPSIS Technique for ranking of risk.