The paper is based on the establishment of mutual effect of project risk and environmental/climatic changes. According to the studies present very few authors have studied the effect of these two phenomenons. The study collects the literature review on the works of various authors and decides upon the criteria for measurement of these project risk factors and climate/environmental factors. Then the study presents a statistical approach for development of relationship between the two. A survey is done in order to study a complete mutual effect on the various factors of project risk and environmental changes on the same projects. The electrical transmission line installation project related professionals are approached for survey. The statistical analysis by SPSS software in this study (based on results from the survey) confirms the presence of mutual relationship with correlation and regression of a high value between project risk and environmental/climatic changes and emerges as a tool for curbing environmental and climate abrupt changes in the immediate surroundings.