Risk management is one of the important areas for implementation of any project and more precisely in the education sector. The conceptual research on risk management in projects within education sector is one of the key focus areas, which helps in identifying the circumstances leading to actualization. The outcomes that can arise while establishing a risk management framework in education projects can reduce the chances of effective reduction of risks. This requires a leading approach like categorization of risks to implement the same. Furthermore, in the perspective of modern educational risk management, rationality leading to risks formulates the effective risk handling process in a methodical and organizational condition. The outcome of risk management can favour the creation of effective and efficient risk management models along with strategies in the sphere of education. The present research study focuses on helping the educational employees into designing, planning, implementing, monitoring and evaluating the educational projects at various levels of the organization in order to manage the risks associated with it.

Keywords: Risk Management, Education, Projects, Framework, Organization