Risk checklists are often used to assist project managers to identify the potential risks in software projects. Previous study found that the checklists can help managers identify more risks, but the number of risks identified doesn’t significantly correlate with managers’ decision. This might because some risk items could play more important role than other risk items in manager’s decision-making process. This paper uses a survey-based research method to investigate the weight of different risk items on project manager’s risk perception and decision-making. This research will be carried out in two phases: 1) Pilot study. A questionnaire will be developed and administrated to college students. The result will be analyzed and research instrument will be modified based on the feedback. 2). Formal study. A group of IT project managers will be recruited and the revised instrument will be sent to them for participation. A detailed research design is presented.