Project Risk management in Software Industry Study in Sri Lanka

Abstract

Effective risk management is crucial in software development to prevent cost overruns, project delays, and quality issues. It ensures project success and client satisfaction. Main objective of this study is identification of risks and risk factors in software industry and how organizational aspects influence project risk. Samples were selected using a snowball sampling method and professionals directly involved in the industry participated in the study. Four most frequent and common risks were identified. The effect of the working culture, mode and working environment was also assessed. Further recommendations are discussed referring to literature on similar issues in the industries.