Construction projects are ambitious in terms of the complexity in its components, structures, design requirements, information flows, stakeholder integration and technological integration particularly in green building projects. As a consequence, management of these projects becomes increasingly integrated; however, risk management has taken little account of these interdisciplinary and iterative trends. This leads to poor risk management outcomes, where traditional risk management practices that rely on allocating risks to specific individual entities are not able to accommodate the collaborative facets. Experienced practitioners were interviewed regarding their current practices and techniques towards managing interdependent design tasks that resulted in inseparable collective risks. Prospective utilization of Dependency Structure Matrices (DSM) and its analysis of identifying the existence of these collaborative Design Risks among the clusters of designs are proposed as a solution in this paper. Since the paper is explorative in terms of the application of the DSM method on identifying and managing the collaborative risk management in green building design, conceptual frameworks are only proposed.