The significance of risk management in technology projects lies in its role in identifying, assessing, and mitigating potential risks that could jeopardize project success. Effective risk management enables organizations to foresee challenges and implement strategies to minimize their impact, enhancing overall project resilience. By proactively managing risks, teams can ensure resources are utilized efficiently, timelines are adhered to, and compliance requirements are met. Ultimately, this leads to successful project outcomes, stakeholder satisfaction, and sustained business growth while maintaining a competitive edge in the technology landscape.