In the reality word, shareholders decide about financial assets based of post modern portfolio theory (PMPT), so comparing of different risks through undesirable risk creates realler results. So, in this research, In the first process, is done the quantitative evaluation of cement risks with the financial approach and in the result of it cleared that in the research time territory, the undesirable risk of the cement co. portfolio, in every years, was more than the risk of the market co. portfolio and also recognized that unsystematic risk of the cement companies is more than their systematic risk.So, the most of the risk that affecting the cement co. returns is rise of the internal factors, such as: the company management or cement industry and the external factors, such as: market factor has had the low affect on the risk of the cement co. portfolio returns and the reason of it is that the all governments is accepted the cement supply in every conditions and so, the cement industrial is not effected of environmental changes.In the second process, is done the qualitative evaluation (identifying & rating) of Cement risks with the marketing approach.For identifying and rating the existing risks in the cement industrial through the questionary and opinion assessment, is analyzed replies and the below results is obtained:The change in foreign exchange, inflation, governmental annoyer regulations, no foreign investment , natural unexpected events, political occurrences are effective in systematic risk in cement companies and determined that The cheapness of the cement sale price & the governmental control on prices, the lack of the skill workers, the lack of sufficient liquidity, the lack of innovation and competition, the hard to return of projects and the same pricing for the same cement formula with different qualities , unstability in issuance of cement exporting licences, unsafe activity of broker network in cement distributions, weariness of equipments & installations, using of present valence in minimum of scale, the cement smuggle and the cement import are effective in unsystematic risk of cement companies. also, The cheapness of the cement sale price & the governmental control on prices, the lack of the skill workers, the lack of sufficient liquidity, the lack of innovation and competition, the hard to return of projects and so on, are the most serious factors in increasing risk in cement corporations. Also, privatising and private management, foreign investment, private management with government supervision and export, are the most serious factors in decreasing risk in cement corporations.