Based on an international comparative research, here are the top 16 software project risks in the Canadian financial services sector.

In the U.S., the top three software project risks are lack of top management commitment to the project, misunderstanding requirements and not managing change properly.

As you can see, most of the software project risks center on poor requirements management.

1. Misunderstanding the requirements
2. Failure to manage end user expectations
3. Unclear/misunderstood scope/objectives
4. Scope creep
5. Lack of dedicated, full-time project resources
6. Lack of frozen requirements
7. Bad estimation
8. Not managing change properly
9. Lack of top management commitment to the project
10. No planning or inadequate planning
11. Lack of available skilled personnel
12. Lack of effective project management skills
13. Improper definition of roles and responsibilities
14. Failure to identify all stakeholders
15. Changing scope/objectives
16. Poor risk management

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