The objective of Project Risk Management: Managing Software Development Risk, is to provide a distinct approach to a broad range of risks and rewards associated with the design, development, implementation and deployment of software systems. The traditional perspective of software development risk is to view risk as a negative characteristic associated with the impact of potential threats, the development of risk mitigation plans and the avoidance of potential adverse consequences for software project objectives. The perspective of this book is to explore a more balanced view of software development risks, including the possibility of positive aspects to risk associated with potential beneficial opportunities, and present a view that risk does not always reflect only negative consequences. On the contrary some positive risks may actually represent previously unexplored benefits to a software development project and provide opportunities. Therefore, a balanced approach is required, where software project managers approach to negative risks with a view to reduce the likelihood and impact on a software project, and approach positive risks with a view to increase the likelihood of exploiting the positive opportunities.