Abstract: Our country’s water-saving contract projects are still in the promotion stage at present, and they face many uncertain risks. Under this background, the risk assessment of water-saving contract projects has very important theoretical and practical significance. The literature analysis method is used to determine the potential risks in the whole life cycle of water-saving contract projects, and the multi-connection number set is used to evaluate the risk of water-saving contract projects in the whole life cycle. The following conclusions are drawn: our country’s water-saving contract projects. The overall risk level of the project is low, so it is very suitable for promotion, but there are also some potential high-risk factors. When the risk of water-saving contract projects is controlled, it is necessary to focus on controlling risks with high risk levels, such as: information risk, financing risk and customer At the same time, it is necessary to strengthen the control of risks with an upward trend in risk levels, such as market competition risks and inflation risks. Finally, this paper puts forward corresponding policy recommendations for these risks.