In construction sector, contractors in general are facing unprecedented challenges to comply with the estimated time and budget of their projects. These challenges increased due to political unrest in Egypt since 2011. As a result, contractors need to apply more strict approach to risk management to avoid cost overruns and expected delays of payments especially in governmental projects. The goal of this research is to identify the current risk management approach for Egyptian contractors. The paper emphasizes the contractor criteria for supplier selection to reduce expected risks. The study involves a questionnaire survey and a series of interviews with contractors. Main elements identified include supplier selection criteria, suppliers’ qualifications, logistics, common risks, and the application of formal risk management methods.