This document discusses common risks in software development projects that can lead to failure and how to avoid them. It outlines three main risks: 1) Bad project estimates that result in projects taking much longer than planned to complete. To avoid this, an accurate feature-by-feature estimation is done upfront. 2) Poor functional requirements that don't accurately capture needs. To avoid this, requirements are analyzed and validated through prototypes. 3) Lack of change management that results in additional costs when changes are needed. To avoid this, a clear change management policy is agreed upon beforehand to allow for changes within budget. Careful project planning can help avoid these risks and increase chances of project success.