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Software risk management is a critical and multi-stage process. All over the world, IT Industries face some threats during software risk management processes. Bangladesh is not exceptional. Our principal goal is to manage risk for Bangladesh's IT Industry. To gain a clear and transparent idea survey is the most effective way. And so, we arranged a survey questionnaire and collected data for risk impact areas on Bangladesh IT Industry. A workable and feasible risk management approach prompts an idea for the risk-mitigating plan. In any case, the high proportion of IT project failures demonstrates the futility of risk mitigation activities. From the survey, it is discovered that the most irritating obstructions behind software disappointment for the presence of covered-up and inconspicuous risks and lack of user communication, and lack of proper training on new technology which is overlooked in the greater part of the models. The proposed model works with the improvement of the risk mitigation plan through four phases, the DVC committee, and the NUT train-up team. Depending upon the survey replies added another unique feature called the NUT train-up team. The model considered all four phases of risk management, with the mitigation phase and training on new technologies receiving the greatest attention.
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