This research was aimed to study the problems related to fish farming and the risks that they face.  Diyala Governorate was chosen as an applied model for measuring risk facing fish farmers. Research data were collected according to the random sample method, which included (30%) of all fish farming projects in Diyala Governorate. This sample has included 28% of the total fish farming projects in fish ponds and (31.5%) of the total Fish farming projects in cages through a questionnaire prepared for this purpose. The study focused on analyzing the behavior of fish farmers of the research sample towards risks by adopting a safety model in the form of the risk avoidance criterion (K(s)(.The production functions for fish farming projects in fish ponds and floating cages were estimated, and these functions were estimated by the absence of dummy variables (educational level, years of experience) and with their presence, as well as estimating the risk functions of fish farming projects in fish ponds and floating cages. The results showed that the percent of fish farmers who prefer to take risks in fish ponds (25%) and in floating cages (33.3%), and that the percent of fish farmers who prefer moderate risk (natural or medium) were about (53%) in the ponds and the proportion (66.7%) in Cages, while the fish farmers who avoid risks, they constitute (22%) in ponds and (0%) in cages, from which we conclude that fish farmers in floating cages prefer a greater risk than fish farmers in fish ponds, also the results of the risk function for farming projects  in fish ponds and floating cages revealed that dummy variables (educational level, years of experience) have a negative relationship with production risks, which means that the improvement of the educational level and the increment of experience years contributes to a decrease in production risks.

The research aimed at evaluating the financial performance of fish farming projects in Iraq using economic criteria, and determining the efficiency of frames in using resources. Diyala Governorate was chosen as an application model, and field data were collected according to the random sample method, which included (30%) of the total fish breeding projects in the governorate. The sample included (28%) of the total fish farming projects in fish ponds and (31.5%) of the total fish projects in floating cages, based on a questionnaire form prepared for this purpose. It amounted to about (4573045) thousand dinars, the net cash income amounted to (5416737.5) thousand dinars, the payback period was (1.565) years, and the invested dinar return was about (1.929) thousand dinars, the operating percentage was (0.520) , the productive profit reached (91.4%). The break-even point in units of (464.56) tons and in revenue about (1642980.27) thousand dinars / ton, and from these results it is found that fish projects for the research sample achieve rewarding returns.*part of m.s.c thesis of the 1 st author.

The research aimed to measure the degree of risk for fish farms projects in fish ponds and floating cages in Diyala governorate, and adopted the method of break-even analysis to measure the productive and price risk, and use of the criterion of the difference coefficient for the return on investment to measure the investment risk, Diyala province was chosen as an application model and the field data collected according to the random sample method, which included 30% of the total fish farm projects in the governorate, as the sample included 28% of the total fish ponds projects in earthen ponds and 31.5% of the total fish ponds projects in floating cages based on a questionnaire form prepared for this purpose, and for the purposes of accuracy in measuring risk The sample was divided according to the size of production capacities into small production capacities and large production capacities for fish farms projects in fish ponds and in floating cages, and in light of studying the risk criteria for projects for the research sample, it was reached using the criterion of difference coefficient of the return on investment for the studied projects. The degree of productive, price and investment risk is high in floating cages compared to earthen ponds because they achieve higher economic returns than those achieved by fish ponds. As for the degree of risk of fish farming projects in both types of culture according to the size of production capacities, it has been shown in light of the above-mentioned criteria that the degree of risk Productivity and price increased with small production capacities, but decreased in large production capacities for both types of fish farms (fish ponds, floating cages).