Preeminent risk factor affecting software development

Software project management has a significant focus on software risk management. The major objective of this study is to identify, analyze and list out the principal vital risk factors within the life cycle of a project. This paper, presents a comprehensive analysis on risk factors that can possibly occur during each phase of SDLC. The risk factors are endorsed by using questionnaires conducted from the employees and employers of various software companies, which handle the day to day challenges efficiently. After collecting data from the pilot study and questionnaires a statistical analysis is performed using SPSS (Statistical package for the social science) to predict the risk impact on cost. The inquisitive analysis can help to develop and foretell the strategies for assessment, control and reduction of the risk factors which will enable to make suitable decisions regarding project success.