Residential construction is significant to economic development. It is important to improve risk management practices to enhance project performance. The construction industry faces unique risks and requires varied mitigation strategies. Understanding these diverse risk approaches is crucial for evaluating their impact on project outcomes. This study aims to identify the risk management measures employed by residential contractors. To achieve this objective, an SLR was employed following the PRISMA guidelines followed by expert interviews. Findings from the study highlight that effective risk management strategies contribute to project success. The research identified that proactive risk mitigation measures, such as risk audits and contingency reserves analysis, significantly help meet project targets and prioritising risk monitoring and control practices positively correlate with project success. The study emphasise that a comprehensive risk management approach improves project outcomes in terms of schedule adherence, cost control, and quality standards. This study's insights hold promise for advancing risk management measures in the residential construction sector for improved project performance and overall industry success.