This Policy Paper calls on African governments to face this hidden burden head-on: We must move from reactive crisis management to a more strategic, proactive approach. By embedding risk assessment into public finance systems, we can expose these silent costs, reduce inefficiencies, mitigate the risk of non-delivery, and deliver greater public value. The paper draws from and is based on real-life examples and cases, international best practices, and input from PFM leaders to advocate for a pragmatic, practical, and. people-centred approach to managing the cost of risk in complex public projects.