Based on dynamic evaluation of emerging technologies,the thesis discusses the composition of risks for each phase in the process.It suggests that these risks can be concluded and delaminated along the three directions of technol- ogy environment,technology itself,firms organizing.Then the three-dimensional conceptive model of analysis on risks is given.It especially points that the cognition and comprehension are very important for the long-dated,deep-seat- ed,way-out,connotative risks during the evaluation of an emerging technology.