Numerous studies have been undertaken to identify risks associated with Public Private Partnership (PPP) projects in both developed and developing countries. The subject of risk has become a significant aspect in PPP projects due to its complex nature. However there are still few studies on risk assessment and management practices in Tanzanian context despite the huge failures experienced in PPP housing projects. Therefore to bridge the knowledge gap, this study aims to firstly, identify the risks associated with PPP housing projects in Tanzania and secondly understand the existing risk management strategies adopted in HPPP projects. A total of 10 semi structured interviews were conducted with practitioners involved in PPP projects in Tanzania. Content analysis was used to analyze the qualitative data. A total of 28 risks were identified. The majority of the interviewees 7 (70%) mentioned that delays have been the most popular risk in these projects triggered by various reasons. The outcomes of this study reveal the relationship between the identified risk and risk strategies adopted. Furthermore, these results may serve as valuable reference for PPP stakeholders to develop effective project and risk management strategies.