The literature reviews and interaction with construction industry related professionals allowed appropriate identification of programmatic- and project-specific construction risk drivers for highway projects. Qualitative risk assessment has been conducted in previous studies, and was used in this study for identifying the significant risk drivers and developing rating scale for the encountered risk drivers in the reported projects. However, the previous studies have not correlated project characteristics to the different construction risk drivers in highway projects in quantitative assessments, which identified the need for further research and motivated the conduct of research for this study (Diab, 2011). To address this need, the dependency correlations among the use of risk assessment, some characteristics of the reported projects, and cost and schedule impact ratings of encountered risk drivers have been analyzed and presented in this paper.