Typical risks in software projects include:
- Scheduling risks: Missing/wrong requirements, underestimating the length of activities, overestimating some team members will result in a project behind schedule.
- Cost risks: Usually a corollary of the above.
- Team risks: Team members getting sick, quitting, maternal/parental leave, etc..
- Technology risks: The technology you're using to build your software is now obsolete. For example, you're using a programming language that is no longer in use (just because your team members know it). This is a risk because you will definitely run into compatibility issues and other limitations.
Software projects risks also include Intellectual Property Risks (IP) risks, Market Risks (competition), and Operational risks.