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The article discusses the formation of the system of risk management and evaluation of the effectiveness of integrated project risk management in the space rocket sector. The classification of the integrated project risks for knowledge-based enterprise in the space rocket sector and credit institution was made. The main methods of project risks evaluation, which can be applied in the space rocket sector, are described. The scheme of integrated project risk management was made on the basis of the life cycle approach when implementing projects in the space rocket sector. When implementing project risks in the space rocket sector, an enlarged scheme of the Regulations on Integrated Project Risk Management System, was developed. An issue of integrated risk management in the space rocket sector using a system of measures being named the “Value-at-Risk” (VaR) was reviewed. It was concluded that there was a need for project implementation in the space rocket sector using a complex, effective, and integrated system of risk management.

Developing a risk management system and assessing the effectiveness of integrated risk management in the space rocket sector