A risk is an event or condition that, if it occurs, has a positive or negative effect on a project's objectives. Corrective actions will probably reduce risk for a project. A risk is the precursor to a problem; the probability that, at any given point in the software life cycle, the predicted goals cannot be achieved within available resources. Risk cannot be eliminated from a software project, but it can be managed. Risk management is critical to the success of any software effort and is a strategic aspect of all software projects. Software risk management is a software engineering practice with processes, methods, and tools for managing risks in a project.