Hydrogen is regarded as a potential future energy source. Various hydrogen facilities are being constructed worldwide, and research is advancing fast. Proper and systematic risk management procedures should be prioritized during project development to avoid future mishaps. The present study identifies risk management procedures at various project stages of a hydrogen facility. Risk management problems should be considered at various levels of project management. Risk management entails determining the scope, risk assessment, communication, risk treatment, monitoring, and review. Specific risk management strategies are identified during distinct engineering stages of hydrogen facilities, from conceptual to operational. The usefulness of various methodologies at various project stages is described. Areas and procedures that require further investigation are also highlighted. This study examines existing methodological flaws and current advancements in establishing risk-informed decision-making and highlights the hurdles to initiating hydrogen-related activities. Work has progressed in several areas, including the examination of the consequences of an unintentional incident, the identification of risks, and the comparative investigation of several hydrogen concepts, such as grey, blue, and green. Future research should examine other green hydrogen approaches, such as solar or wind power, to determine their potential regarding safety, resilience, and sustainability. Inherent safety is regarded as the most proactive risk mitigation option. However, this method has received much too little attention on hydrogen safety.