The innovative way of development of the Russian economy is focused on technological development of the domestic production complex, which implies constructing the appropriate mechanisms to ensure sustainable economic development of industrial enterprises. Stabilization of production activities is associated with risk management. Since the long-term preservation of competitive advantage in the conditions of the new technological structure depends not only on the traditional resource base but also on the development of social and human capital, researchers naturally focus on the risks of the enterprise associated with the working conditions and their impact on economic indicators of production activities. The purpose of the study is to develop an organizational and economic mechanism for managing the sustainable development of an enterprise based on production risk assessment. The following problems are solved: approaches to defining sustainable development of an enterprise are analyzed; impact of industrial injuries on the indicators of enterprise sustainability is assessed; a system for managing sustainable development of the enterprise has been devised; an organizational and economic mechanism for managing the sustainable development of an industrial enterprise has been formulated. As a result, the sustainable development of enterprise is defined as the enterprise moving along a life-cycle curve with a minimum gap between planned and actual characteristics, subject to minimal costs for ensuring such a steady state. Enterprise sustainability is considered in four aspects: economic, social, environmental, and institutional. The relevant indicators of enterprise sustainability are identified. The components of damage to the enterprise as a result of industrial injuries are highlighted, the calculation of the total damage is made on the example of an oil refinery. Our definition of the risk associated with hazardous working conditions and industrial injuries as a production risk is substantiated. A step-by-step system for managing the sustainable development of enterprise taking into account production risk is presented. An organizational and economic mechanism for managing the sustainable development of an enterprise has been developed, describing management subject and management object, goals, objectives, functions, principles, methods, tools, and main stages of implementation. The implementation of the organizational and economic mechanism allows strengthening the company's position in an unstable external environment in its institutional, economic, social and environmental aspects. The directions for further research are seen in development of an economic mathematical model of the automated system for the managing the sustainable development of enterprise based on production risk assessment as a tool for the described organizational and economic mechanism.