In the conventional software development environment, risks are generally managed through a risk management framework; however, application of risk management in agile projects is limited despite its elaborate discussions in the board rooms among professionals. Moreover, risk mitigation used to monitor a project continuously through effective communication is limited. Risk management is critical for achieving success in software projects. It is an improvement process implemented through the institutionalization of best practices among software development teams. Such institutionalization assists in reducing costs, achieving higher levels of client satisfaction, increasing productivity, and reducing project failure. All of the above, it’s necessary define risk management techniques for minimize the effort and guaranteeing the respect of the agile manifesto. Using the risk analysis, reviewing techniques to be adopted by the agile teams and incorporating improvement strategies such as the gamification could be an alternative method to obtain a risk analysis proposal for agile environments. This proposal aims to develop a strategy for analyzing the project risks by a software development team, incorporating agile methodologies, and applying gamification elements for motivating team members to reduce the time for completing the risk management cycle.