This study aims to analyze flood risk management through a rainwater harvesting approach in the Sub-Watershed (Sub DAS) Buah area of Palembang City. The location was selected due to its frequent annual flooding caused by suboptimal drainage systems. The research employed both qualitative and quantitative methods. Data collection techniques included field surveys, observations, interviews, brainstorming, and questionnaires. A total of 25 types of flood-related risks were identified 8 adapted from previous relevant studies and 17 newly identified through direct observation and assessment of the existing drainage infrastructure and community responses. Risk acceptance analysis revealed that most risks across planning, implementation, and operation & maintenance (O&M) aspects fall into the "unacceptable" and "undesirable" categories. Differences were observed between expert and general respondents in their perception of risk levels; however, all three aspects consistently showed a significant presence of high-risk conditions requiring immediate mitigation efforts. The proposed mitigation strategies consist of four main approaches: risk retention, risk reduction, risk transfer, and risk avoidance. Among these, the implementation of a rainwater harvesting system is considered the most suitable and effective in significantly reducing risk levels. Moreover, this approach enhances drainage efficiency and strengthens the region's capacity to manage floods sustainably. The findings of this study are expected to serve as a basis for informed decision-making in flood control strategies that are adaptive and risk-based.