This study establishes a model of prefabricated building project risk management system based on the Modified Teaching-Learning-Based-Optimization (MTLBO) algorithm and a prediction model of deep learning multilayer feedforward neural network (Backpropagation, BP neural network) to improve the requirements of risk management during the construction of large prefabricated building projects. First, we introduced the BP neural network algorithm based on deep learning. Second, the traditional

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... ng-Learning-Based Optimization (TLBO) algorithm was modified by using information entropy, and the modified algorithm was simulated and tested in five test functions. Then, based on the BP neural network and MTLBO algorithm, we established the MTLBO-BP neural network prediction model and tested its performance. Finally, based on the MTLBO-BP neural network prediction model, MATLAB software was used to establish an intelligent model of the risk management system during the construction of prefabricated building projects, and the example verification was performed. In addition, the MTLBO algorithm was verified by test function simulation and established that global searchability is stronger than the TLBO algorithm. Of note, it is not easy to fall into a local optimum. The test results of the MTLBO-BP neural network prediction model revealed that the prediction model converges faster and exerts a better prediction effect. The example verification of the intelligent model of the risk management system during the construction of prefabricated building projects established in this study revealed that the algorithm proposed is more accurate in the reliability and cost prediction of the risk management of prefabricated building projects. Moreover, the algorithm proposed provides theoretical support for intelligent management and decision-making of prefabricated building projects. Overall, this study validates that this algorithm is essential for construction project management, decision-making, and quality assurance.