Construction objects are sources of technosphere risk both during construction and during operation. The realization of the risk leads to direct loss and additional costs for construction companies, to the need to compensate for damage to other persons, or to lost profits. Based on the assumption that risk and its manifestations are unevenly distributed across the stages of the construction and operational cycle of an object and business processes implemented during construction, the article discusses the possibility of a complex economic assessment of technosphere risks based on a process approach. The study was carried out on the basis of the publications made by academics and practitioners who studied the issues of risk management and management based on business processes in construction companies. Approaches to risk assessment in construction and requirements for the indicators used are identified. The reasons for the realization of risk associated with different stages of the construction and operational cycle are considered. Models representing a construction company and individual stages of the construction and operational cycle as a set of business processes are analyzed. A substantiation is given for the feasibility of using a process approach to assessing risks caused by various factors and having different forms of manifestation, and the possibility of forming on this basis a complex economic assessment related to the formation of reserves, insurance and maintaining the financial independence of companies. A complex risk assessment model for the processes of core activities during the construction of buildings is proposed. The strengths of the discussed approach and limiting factors are identified.