This report delves into the critical area of IT project risk management, a vital component of successful project delivery. It begins by establishing the significance of project management and the necessity of robust risk management strategies, particularly within the IT sector. The report then explores various software solutions designed to aid in risk planning, analysis, control, and treatment. These solutions, including nTask, Resolver, TimeCamp, Integrum, and Qualys, are examined in detail, highlighting their features, benefits, and potential drawbacks. The analysis includes a comparative assessment of each software's capabilities, user interface, and suitability for different project needs. The report concludes by recommending nTask as the preferred option, offering a comprehensive and user-friendly approach to managing IT project risks. Furthermore, it outlines a structured approach to risk management, including introduction, purpose, project management area, associated software solutions, detailed analysis, recommendations, and conclusion.