Top 10 software project risk factors - US
 

1. Lack of top management commitment to the project.

2. Misunderstanding the requirements.

3. Not managing change properly.

4. Failure to gain user commitment.

5. Lack of effective project management skills.

6. Lack of adequate user involvement.

7. Failure to manage end-user expectations.

8. Lack of effective project management technology.

9. Unclear / misunderstood scope / objectives.

10. Changing scope / objectives.

 

Other non-US risks:

Lack of required knowledge / skills in the project personnel

No planning, or inadequate planning

Artificial deadlines

Lack of cooperation from users

Change in ownership or senior management

Lack of frozen requirements

Conflict between user departments

 

Source: "Identifying software project risks: An international Delphi study", by  Roy Schmidt , Kalle Lyytinen , Mark Keil and Paul Cule, Journal of Management Information Systems, Spring 2001 Vol 17, No.4.
ABSTRACT: Advocates of software risk management claim that by identifying and analyzing threats to success (i.e., risks) action can be taken to reduce the chance of failure of a project. The first step in the risk management process is to identify the risk itself, so that appropriate countermeasures can be taken. One problem in this task, however, is that no validated lists are available to help the project manager understand the nature and types of risks typically faced in a software project. This paper represents a first step toward alleviating this problem by developing an authoritative list of common risk factors. We deploy a rigorous data collection method called a "ranking-type" Delphi survey to produce a rank-order list of risk factors. This data collection method is designed to elicit and organize opinions of a panel of experts through iterative, controlled feedback. Three simultaneous surveys were conducted in three different settings: Hong Kong, Finland, and the United States. This was done to broaden our view of the types of risks, rather than relying on the view of a single culture-an aspect that has been ignored in past risk management research. In forming the three panels, we recruited experienced project managers in each country. The paper presents the obtained risk factor list, compares it with other published risk factor lists for completeness and variation, and analyzes common features and differences in risk factor rankings in the three countries. We conclude by discussing implications of our findings for both research and improving risk management practice.