Requirement risk is often identified as a reason contributing to Information Systems Development (ISD) project failure but has not been adequately explored in the IS literature. Requirement risk refers to the uncertainties caused by differences between the requirements perceived by system developers and user groups’ expectation of the system. Requirement risk can lower the project performance therefore effective management of requirement risk is critical to achieve desired project performance. This paper aims to address the gap in the current literature of requirement risk by emphasising its dynamic nature and examining the strategies to manage such risks. This study identifies three types of requirement risk: changing requirement, misunderstanding requirement, and incomplete requirement and argues that each type if not being attended to by the project team will lead to further requirement change or other project risks. The study also identifies the strategies that a project team can employ to manage requirement risk.