Vol. 11, Issue 2, Part D (2025)

Abstract
The world has changed in the era of technology. Software has become a part of human activities. The development of software companies all over the world become necessary for people. Since it has developed a lot, software risk has also been enhanced. Software companies use various risk management practices to identify and mitigate software risks to reduce the failure of software projects. Software companies had many challenges during the stage of design and software project development. Software companies face many types of risk which largely affect attaining the target. Software risk management practices are the best solution for improving the success rate of software projects. Majority of the software companies fail to manage their risk in an efficient manner. Unrealistic schedules and budget increases the failure rate of information technology projects. Failures of software companies create huge losses and are unable to survive from competition. The various risk contributory factors of software companies are largely related to the failure rate. Software risk management is essential for all software projects and to reduce the failures of information technology projects.