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Purpose – Success of software projects depends on identification of project risks and managing the risks in a proactive manner. Risk management requires thorough insights into interrelationship of various risk factors for proposing strategies to minimize failure rate. The purpose of this paper is to develop a comprehensive structural model to interrelate important risk factors affecting the success of software projects. Design/methodology/approach – Specifically, this study reveals how interpretive structural modelling helps the risk managers in identifying and understanding the interrelationship among various risk factors. A total of 23 risk factors (or risk sources) have been identified through an extensive literature review. Findings – Necessary modelling information has been gathered from expert through a structured questionnaire survey. Matrice d’Impacts croises-multipication appliqué an classment analysis has been employed to classify the risk factors into four clusters such as autonomous, dependent, linkage and independent based on their driving and dependence power. Risk factors with strong dependence and weak driving power need urgent attention from managerial perspective. Originality/value – The proposed model is useful for software managers/practitioners to address risk factors associated with complicated projects.

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