Deciding on the effectiveness of risk reduction measures is a common problem that involves tradeoffs among multiple different and generally qualitative criteria. Often risk mitigation measures implemented for pipeline risk reduction cannot be easily quantified, but it can be ranked. Hence, there is a need to identify which risk reduction measure is the most effective amongst the competing options. This paper uses Analytic Hierarchy Process (AHP) approach to select optimal solutions that best satisfies all of the decision maker’s requirements. This paper presents the development of an AHP model and the derivation of a quality index. The model is used for a hypothetical case study of various remediation works to an existing pipeline. The advantages of using such a technique are also discussed. This proposed model of risk assessment is useful for risk management during the planning and building stages of a new pipeline, as well as for modification and changes of use for an existing pipeline.