Is the chemotherapy a risky thing to do?

Yes. Chemotherapy has many potential risks. The potential adverse events and dose limiting toxicities should be discussed the your cancer physician and team. The important concept is understanding the "risk/benefit ratio". That is, what potential benefit is worth the risks? Also, what alternatives are available?
Yes. D/w oncologist. Yes, nothing is perfect. Just like any other medicine/treatment, there are some possible side effects that are associated with chemotherapy- some of them could be very serious and could be life threatening if not treated immediately. Chemo is given to treat cancer - given only when it is indicated. You should weigh the risk and benefit of chemo prior to administration of chemo. D/w your oncologist.