Abstract

In the industry of software development, the risk is the most effective competitor who tries to flop the project at any stage of development. Risk is a critical factor that is obscure and has the potential to wreak massive loss of the project in terms of money, time, and resources. It is also harmful to the credibility of the organization. Most of the organizations don’t focus on this factor, and as a result, might witness the project failing. Lack of risk assessment is very common in most of organizations. This paper introduces risk assessment factors and analyzes the various situations to tackle them. We investigate the most effective key risk variables cost, strategy, technique, operation, and some unknown/unpredictable factors. Based on these variables, survey and interviews are conducted and examined them. We applied empirical studies on these variables and map them on the cause and effect analysis technique. The proposed technique elaborates the factors behind these risk variables. After that, results and analysis of these variables have been incorporated to scale down the impact of risk.