An effective risk management will largely help a project mitigate adverse impacts of the potential problems during the project execution. CMMI defines several practices that are required for risk management. However, little emphasis has been put on developing tools for risk management, which impedes the efficiency of risk management in a real world project execution. In this thesis, we develop a web-based system to facilitate the specific practices of risk management process area in CMMI. The system has the following key features: (1) allow user-defined risk parameters values; (2) monitor risks in an active manner; (3) provide reporting service for Senior management; and (4) control access based on roles.