Abstract : Continuous Risk Management is a software engineering practice with processes, methods, and tools for managing risks in a project. It provides a disciplined environment for proactive decision making to assess continuously what could go wrong (risks), determine which risks are important to deal with, and implement strategies to deal with those risks. The purpose of this guidebook is to explain what Continuous Risk Management is; to help you understand the principles, functions, methods, and tools; to show what it could look like when implemented within a project; and to show you how a project could implement its own adaptation. The intent is not to provide a "cookie-cutter" answer for everyone. There is no such answer. This is a generic practice with a variety of methods and tools from which to choose. It is meant to be adapted to suit an organization and a project.