Irrespective of different research-based approaches toward risk management, developing a precise model towards risk management is found to be a computationally challenging task owing to critical and vague definition of the origination of the problems. This research work introduces a model called as PROM i.e. Predictive Optimization of Risk Management with the perspective of software engineering. The significant contribution of PORM is to offer a reliable computation of risk analysis by considering generalized practical scenario of software development practices in Information Technology (IT) industry. The proposed PORM system is also designed and equipped with better risk factor assessment with an aid of machine learning approach without having more involvement of iteration. The study outcome shows that PORM system offers computationally cost effective analysis of risk factor as assessed with respect to different quality standards of object oriented system involved in every software projects.