In this paper, the necessity of the establishment of risk management system for construction enterprises is expounded first, and then a new risk management concept for construction enterprises on projects is proposed through the analysis on the construction enterprise risk management theory and practical experience on the basis of the progress of construction enterprises. The new risk management concept is based on the analysis of feasibility of establishment of risk management system. We will preliminarily explore the design of risk management system and mechanisms workflow and then propose the basic idea and framework of the system for establishment of the risk management system based on project in Chinese construction enterprise including establishment of risk organizations and risk assessment of the quantitative methods etc. At the same time it explains the steps and contents establishment of risk management system based on the project. The conclusion from the study is significant to decision-making departments. All the discussions are based on the basic ideas of risk management. © 2008 IEEE.