Abstract: Project risk patterns modeling and risk mitigation. The method includes obtaining potential risk factors associated with a project. Further, at least one interacting potential risk factor influencing at least another potential risk factor may be ascertained. The ascertaining is performed based on interaction indicators. The interaction indicators are indicative of an interaction between the at least one interacting potential risk factor and the at least another potential risk factor. Further, a risk emergence pattern is identified based on the interaction between the at least one interacting potential risk factor and the at least another potential risk factor. The risk emergence pattern is indicative of a recurrent interaction between the at least one interacting potential risk factor and the at least another potential risk factor.