The lack of environmental certainty and the intensity of competition in global markets have made companies face many challenges and strategic risks. The purpose of this research is to design a suitable model of strategic risks in the water and electricity organization of Khuzestan province, which prevents the realization of strategic goals and affects all components and dimensions of the industry in a comprehensive and macro way. The current study is a combination of practical and exploratory in terms of purpose and data collection. In the qualitative part, semi-structured interviews, focus groups, and expert groups were used, and in the quantitative part, structural equations were used. The results led to the identification and formulation of 110 indicators in the field of strategic risks, in which more than 50% of the experts chose 60 codes, and the codes that are of the same type were placed in a separate group, and at the end, the codes were grouped into 13 components and 6 dimensions. The results showed that the data were analyzed in three stages open, central, and selective coding using Atlas T software. Based on this, 60 indicators in the form of 13 risks, including economic, political and legal, environmental and climatic, sustainable management of water and electricity resources, political and governance, organizational and managerial, cultural and social, planning development, maintenance and development, income sources, stability and security of resources, increasing productivity and efficiency, better response to changes and crises, were identified and categorized.
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