The degree of complexity of a smart city project and the management of multiple technologies is expected to advance year after year. The project manager must manage the technological resources, ensure their implementation and maintenance throughout the project, and provide all necessary training and documentation for the work team, and the challenge is enormous.

This study aims to conduct a risk assessment on implementing a smart city considering project management methodologies, highlighting the main organization topics, risks, and impacts for major stakeholders. The study also seeks to highlight the different project management methodology guidelines, looking for an effective contribution to success in implementing such a sustainable and innovative project.

As a methodological approach, the authors collected qualitative data from experienced field specialists and project managers. A matrix was used to list opportunities, risks, and impacts of the construction and implementation of a smart city project.

As a result, the study shows vital information that can contribute effectively to project managers involved in smart city projects and help meet the requirements of time, cost, and quality.

The contribution is significant since it covers the critical points of the risk management methodology in implementing a smart city and the project management from the first stage of discussion and conception with municipal leaders to its implementation.

It can impact the project's success and help understand performance and safety during its lifecycle. Although conducted in a specific city in Brazil, the study can be generalized to other cities and countries whose safety is affected by risk issues resulting in waste, rework, and unnecessary energy consumption. The study can change the practice and thoughts of professionals dealing with risk assessment in implementing a smart city.