Every project – whatever the application field – should be managed taking into account at least four dimensions: Time, Cost, Quality and Risk. To manage these dimensions, a key tool for a Project Manager is to increase project visibility, defined as the amount of information about the project associated with its probability of occurrence. This paper uses the “iceberg” metaphor to introduce the ICEBERG (Improvement after Control and Evaluation-BasEd Rules and Guidelines) approach that can help Project Managers through the use of standard (de jure and de facto) ICT methods and techniques. This approach focuses not only on the management, and measurement, of resources, process and product, but also of the project and the organization itself. A list of candidate measures related to these 5 entities is suggested for a comprehensive software measurement plan in order to reduce project risk.