Taking a municipal water supply pipeline river crossing construction project as an example, this paper explains the construction characteristics of pipe jacking technology, construction application, and gives the formula for calculating the mechanical parameters of each stage of municipal water supply pipeline river crossing construction. According to the relative position relationship between the new pipeline and the urban river, and to meet the requirements of certain boundary effects to determine, using finite element simulation software MIDASGTSNX to build a numerical model of municipal water supply pipeline river crossing construction, and at the same time to determine the parameters of the model in this paper and boundary conditions. Combined with the model and research data in this paper, the safety analysis in the construction of municipal water supply pipeline river crossing is explored, and the risk management and control strategy is proposed. The result of pipe settlement in municipal water supply pipeline river crossing construction is 1.237, which meets the safety standard requirements of pipe jacking technology. As long as the friction coefficient of pipe-soil is maintained less than 0.43, slight settlement occurs in front of the working surface, while the safety coefficient is much larger than the bearing capacity. In order to improve the construction risk control, three risk control strategies are proposed to accelerate the sustainable development step of urban planning, which greatly contributes to the economic and social effects.