Construction faces many safety accidents with urbanization, particularly in hoisting. However, there is a lack of systematic review studies in this area. This paper explored the factors and methods of risk assessment in hoisting for industrial building system (IBS) construction. Firstly, bibliometric analysis revealed that future research will focus on “ergonomics”, “machine learning”, “computer simulation”, and “wearable sensors”. Secondly, the previous 80 factors contributing to hoisting risks were summarized from a “human–equipment–management–material–environment” perspective, which can serve as a reference point for managers. Finally, we discussed, in-depth, the application of artificial neural networks (ANNs) and digital twins (DT). ANNs have improved the efficiency and accuracy of risk assessment. Still, they require high-quality and significant data, which traditional methods do not provide, resulting in the low accuracy of risk simulation results. DT data are emerging as an alternative, enabling stakeholders to visualize and analyze the construction process. However, DT’s interactivity, high cost, and information security need further improvement. Based on the discussion and analysis, the risk control model created in this paper guides the direction for future research.

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