Abstract: The study investigated the various risks a contractor is exposed to while working on public institution projects in the Southern part of Nigeria. The study is aimed at determining the frequently occurring risks. In all, 75 questionnaires were administered to contractors by the means of one-to-one/face-to-face technique having identified the institutions to visit in the area. Data obtained for the study were analyzed using simple percentages and the mean score statistical tool. Based on the analysis of data from the field, the followings were the conclusions made from the study: Contractual risk comes first among the risk types which adversely affect contractors� performance. Next to this is political risk which affects also the project cost and delay completion time in most cases. The study recommends that contingency fund for projects should be high to accommodate all types of risk on projects and that a known and documented process of awarding contract is adhered to.