Produced water is a waste of significant concern due to its high volume being produced every day and complex chemical composition. In order to meet environmental regulations and standards, different tech- niques can be used to treat produced water. This paper first summarizes produced water composition, its related environmental impact, regulations, and standards, as well as a possible combination of differ- ent treatment techniques. This paper aims to develop a generic framework for a risk -based approach to produced water management. The proposed methodology considers the integration of environmental, technical, and economic risks in the decision -making process for produced water management. Environ- mental risk assessment is conducted by DREAM, Failure Mode and Effects Analysis is used to estimate technical risk, and cost -benefit analysis is performed to calculate economic risk. To integrate all the risk values, acceptable risk levels are set and compared to the calculated risk values. Experts assign weight- ing factors by using pair -wise comparison. The sum of the multiplied weighting factors to the ratio of calculated -acceptable risk values gives the final integrated risk. This framework can help to examine and select the most suitable treatment or reuse technique or identify potential areas for improvement in a specific site. The estimated risk can be used to justify the selection process. A case study on the produced water treatment in Thunder Horse Oil Field is presented to demonstrate the application of the proposed framework.