Public-Private Partnership is a contractual agreement where long term investment is involved and includes financing, design, construction, operation and asset management. This type of agreement is associated with many risk areas and critical success factors that need to be addressed. The literature shows that most of research works related to Public-Private Partnership discuss risks in isolation of the critical success factors. This paper presents a study on Public-Private Partnership system concentrating in particular on risk areas and critical success factors related to construction projects delivered with this system. Risk areas and critical success factors are identified and examined in order to establish the relationship between these two areas of concern to parties involved in Public-Private Partnership contractual agreements. Based on the types of relationships between risk areas and critical success factors as well as project success components which are affected by these two points of view an exhaustive risk breakdown structure for Public-Private Partnership construction projects which don't have unnecessary risk details is developed.