Identifying risk factors concerning social stability and faking targeted risk control or mitigation measures is nod only the need of project construction，but also the need of developing a harmonious society. Social stability risk in river course projects mainly refers to the uncentaity of the “events”happening in the process of construction and operation which can have impact on social stability. And the uncertainty of the events that may happen，arises from the random of event producers' behavior the random of the affair incentives. Based on the analysis of the construction and operation of Huai River RH project and ids characteristics， this paper uses“engineering activity chain" and“interest chain"，identifies the stakeholders of the constuction and operation concerning the project，and analyzes different stakeholders' relationships between damage and compensation，earnings and dividends in the process of construction and operation of the project. Besides，this paper poins different stakeholders in the regional social structure and analyzes them by means of snowball sampling, semi-structure mlerment focus group intervient observations. From stakeholders' ideology and action possibility，this paper dries to judge whether the demands of the stakeholders，suppliers' conditions and the degree are in conflict or deviation. Moreover, it explores the possibility of occurrence of the social“events"，distinguishes feat re and scale of event participants and determines the size of social stability risk. According to the inceWives and critical moments of the risk occurrence，social stability risk management system should be constructed including prevention，process control and post-improvement.