In every industry,risk management plays an important role in the timely completion of projects without any loss in quality.The goal of this study was to look at and analyze the risk factors that subsequently contribute to project delay in different steel industries（public&private sector）in Pakistan.In addition,comparative analysis of both the sectors were discussed by the looking at the approaches of the project managers,plant managers,HR managers and production managers in different steel sector organizations（public&private sector）of Pakistan and the reasons behind project delays.For that purpose,the mixed research methodology was adopted.Interviews were carried out from 8 respondents segmented through public and private steel sector organization,while survey with 150 respondents was carried out through same segmentation approach.The results revealed that risk management practices followed by project managers in Pakistan steel industry are inadequate.In addition,the factors contributing to ineffective risk management in Pakistan are many and should be identified through training.Majority of the managers are unaware of the risk management methods,because of which training is required.On the basis of the arguments,it can be said that the management of the investigated companies is not providing the support,and the hired personals are not well-qualified or trained.The awareness and training should be given to the employees because it would significantly reduce project delays by inducing risk management abilities in them.