Risk-First Software Development, Second Edition
Deliver Better Systems in a Post-Agile, AI World
by Rob Moffat
Not all software projects go according to plan: many fail due to
overlooked problems, misaligned stakeholders, or rigid methodologies.
This book offers a groundbreaking framework for thinking differently by
identifying risk at the center of every decision. You’ll gain the
vocabulary, tools, and confidence to identify, evaluate, and mitigate
risks before they derail your project. Whether you’re managing a startup
product, steering an enterprise system, or trying to incorporate new
technologies such as AI, risk-first helps you get your team aligned,
spot trouble before it hits, and build software that delivers.
Software development is awash with methodologies that focus on
optimizing process. But process alone doesn’t guarantee success.
Projects still miss deadlines, burn out teams, and fail to deliver
value. Why? Because most methodologies ignore the underlying force that
shapes every decision in a project: risk.
Risk-first software development takes a different approach. It reframes
the entire software development process around identifying and managing
risk. Through real-world examples and hands-on techniques, you’ll
explore not only how risk underscores every software development
activity, but how you can turn that to your advantage. You’ll identify
and visualize risks with the help of risk diagrams, master techniques
such as de-risking, bets, discounting, and risk classification, and
build a deep vocabulary for identifying and discussing risks with
developers, users, or executives. This shift in perspective will enable
you to make smarter decisions, anticipate problems, and adapt
confidently to changes, whether to requirements or to new innovations
like AI.
Whether you’re a developer, team lead, or CTO, and irrespective of your
tech stack or process preference, this book furnishes you with new tools
to guide projects to better outcomes. Don’t let risk control you—make
it your competitive edge.
What You Need
You don’t need a background in risk management to benefit from this
book, just experience working on software projects and a desire to
improve outcomes. Whether you build products solo, lead a team, or work
in enterprise IT, you’ll gain valuable insights. If you’ve used agile
techniques, waterfall, or anything in between, this book will reframe
how you think about planning, communication, and success through the
lens of risk.
Resources
Releases:
2025/10/06
B2.0
*Improved term exposition structure of Chapter 1.
*Added Risk Framework to glossary and expanded on it in Chapter 2.
*Updated Chapter 3 with feedback, added risk landscape diagram.
*Incorporated feedback in chapter 4, referred to Risk Framework
*Introduced new risk framework chapter 5.
*Incorporated feedback to chapters 6+7.
*New box-out styles for anecdotes, threats, examples, notes etc.
*Further small edits to final two chapters.
2025/09/03
B1.0
Initial beta release.
Note: Contents and extracts of beta books will change as the book is developed.
- Preface

- Introduction

- Thinking About Risks
- Living With Risk
excerpt
- Having a Goal In Mind
- Attendant Risks: The Risks You Know About
- Hidden Risks: The Risks You Don’t Know About
- Deconstructing Risk-First Diagrams
- Thinking About Risk-First Diagrams
- Showing Addressed and Hidden Risks
- Moving From Diagrams To Development
- Analysing The Development Process
- Toys For Thinking And Learning
- Processes Are For Reducing Risks
- Applying the Toy Process
- From A Toy Process To Any Process
- Techniques In Risk Management
- Building Internal Models
- Meeting Reality
excerpt

- It’s All About Risk
- Your Goals Are Risks, Too
- Setting Priorities
- Is All Work Risk Management?
- Healthy Software Development
- Identifying Health Risks
- Make Your Life (and Project) Easier with De-Risking
- Monitoring Feedback Loops
- A Healthy Conclusion
- Making Educated Bets and Taking Risks
- Understanding Expected (or Risk-Weighted) Returns
- Back To Software: Agile Meets Bets
- Dealing With Differing Time Horizons
- Invariances In Risk Management
- Summing Up
- Risk In the Organisation
- A Risk Conversation
- Risk In the Enterprise
- Risk Up and Down The Hierarchy
- Summing Up
- A Pattern Language of Risks
- A Journey Through Risks
- The Software Crisis
- Different Methodologies For Different Risks
- Pattern Languages
- Preparing To Travel
- Feature Risks
- Feature Fit Risk
- Implementation Risk
- Market Risk
- Dependency Risks
- Reliability Risk
- Schedule Risk
- Deadline Risk
- Funding Risk
- Process Risk
- Agency Risk
- Lock-In Risk
- Model Risks
- Communication Risk
excerpt

- Complexity Risk
- Internal Model Risk
- Coordination Risk
- Environmental Risks
- Security Risk
- Legal Risk
- Reputational Risk
- Operational Risk
- Environmental Risks: Wrap Up
- Applying Risk-First
- Artificial Intelligence And Risk
- The Immediate Perspective: How AI Changes Society’s Risk
Landscape
- Immediate Threats To AI Integrators
- The Longer Term: Future Risks For AI Integrators
- Future Risks for Society
- Conclusions
- Navigating the Future
- Charting Technological Progress
- The Lindy Effect
- Synthesis
Author
Rob Moffat is a software developer with deep experience in the
finance industry leading regulatory, risk, and transformation IT
projects at top-tier investment banks in London. A strong advocate for
open source, he currently serves as the chief architect for FINOS, the
Financial Open Source initiative of the Linux Foundation. Rob holds a
degree in Computer Science and an MBA.