The paper presents a concept of joint risk management (JRM) that is about working together on managing project risks. Despite the fact that JRM is argued to be the best option when it comes to unforeseen and changing risks, the use of JRM is still uncommon in Sweden. The limited usage of collaborative tools in general and JRM in particular is obviously a weakness in current practice that negatively affects project performance improvements. Traditional construction culture and the lack of competence among the project actors are identified as the main obstacles towards effective collaboration and JRM. In order to overcome these obstacles, a number of factors must be successfully incorporated in the project. Two groups of factors, procurement-related and relationship-related, are described in detail. The main conclusion is that there is room for improvements regarding overall collaboration in projects and JRM in particular. However, the Swedish construction industry is not efficient enough to expect rapid progress.