Risk is a function of danger, exposures, and consequences. Risk is often considered to be related with negative things such as loss, danger, and other consequences. The project of housing construction is a quite sophisticated project so that it has many risks. This research aims to identify and assess the risk factors which may cause delay, identify the types of risks which frequently occurs in the implementation of housing construction project of Verdi Summarecon Cluster. Work Breakdown Structure, field observation, and interview were conducted to identify the possibility of occurrences and consequences. The risk value is investigated with the approach of risk=likelihood x consequences. Then, the mentioned approach result is described in the ratio matrix. The research results show that the job having the highest delay risk is the roof job with the average risk value which is 6.75. Meanwhile, the plafond job has the average risk value of 6. The most frequent risk identified is the low risk having the amount of risks which is 96 while the moderate risk has 56 risks.