Risk is the potential of loss. This potential is based on both the probability of occurrence (uncertain and undesirable outcomes that may lead to a major problem at any given point in the software development life cycle) and the impact on the business/project and software (combination of time delay, Financial loss, reduce in performance, loss of reputation etc.).
General causes of Risks
There are multiple reasons of project failures, sometimes the cause of the failures are located in the business level and some time on a specific stage of the SDLC. I created this list that has more than 150 real life examples that you can include in your own RM process, the list is divided into few simple categorize that make it more readable for you.
Stakeholders Related Risks
Allowing the stakeholders to dominate the project.
Failure to engage the company stakeholders.
Failure to understand the response of the stakeholders in case of failed projects.
Failure to understand the stakeholder’s expectations.
Team members that afraid to take decision because some stakeholders maybe decline it.
The Customer changed requirements that may lead to stakeholder’s conflicts.