Abstract
Software development is the art of developing the software in an appropriate manner by using the software development life cycle. The development is a dynamic activity and requires a lot of rational thinking during this process. As the development of software is becoming more systematic and tool-driven, the risks are increasing and the attention to risk management is not increasing with the same pace. Therefore the academic and industrial community is worried to consider that how the risks can be handled to minimize the losses and to increase the profits and reputation in the market this paper focuses on the aspect of suggesting the techniques to handle or manage the software risks. Taking into consideration the eighteen most prominent risk factors that effect the software quality and software process, the handling or avoidance strategy has been proposed. This paper suggests addressing the risk factors to be treated not only by the technology but by using intuition as well.