The risk identification is the first stage of risk management process, and all the subsequent stages (such as risk analysis, assess, response policies and control) are based on it. The more you identify risks truly and accurately will therefore increase the accuracy and validity of all subsequent stages in risk management process. On the basis of the importance of this phase this research came to explore and identify the main risks facing the construction companies operating in Syria. We follow the descriptive study in his research based on the problem of the study and the objectives it seeks to achieve. The study population included all construction companies operating in Syria. The researcher used a questionnaire specifically designed to identify risks in construction companies by (Zou, et al., 2006) and the student conditioned its questions with the Syrian environment. The findings of this study show that inflationary risks ( materials cost- hand labor wages - transportation costs) are one of the fundamental risks facing construction companies operating in Syria, in addition to the absence of risk management culture is a major threat because it keeps a bulk of the unknown risk and thus its effects and consequences are unknown, it noted the absence of insurance culture at various stages of the work, making things very critical when risks and work accidents occurs. The most important recommendations reached by the student is: 1-The construction companies operating in Syria must organize construction contracts in a way that include in its provisions the possibility of higher prices and the possibility of modifying the value of the contract. 2- Risk management is an important process at all administrative levels. It can help in determining the potential risks that may be faced and handling them.