Abstract: Based on a coal storage yard reconstruction project of a thermal power plant, this paper identifies the hazard sources and analyzes the risks existing in the reconstruction project. It is proposed that the risk identification method of construction project in construction operation is a combination of brainstorming method and Delphi method, and the initial risk index of reconstruction project is obtained and verified by questionnaire method, and the risk index system is finally determined. DEMATEL and network Analytic Hierarchy Process (ANP) were used to conduct risk assessment, and the global weight and local weight of each risk factor were obtained, and the key parts that should be prevented and the risk factors that should be controlled during the construction of the reconstruction project were determined. Finally, the control strategy was implemented for the risk factors with high weight.