The software size estimation is the basic and essential process in the Software Development Life Cycle (SDLC) for budgeting, developing and delivering in the scheduled manner. The modern computer software like Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT) and Data Analytics are highly dynamic, distributed and parallel processing. To identify the size of this versatile environment is highly difficult and risk based. A small fault may cause negative consequences and also suspension of the project. This article gives a study on the functional, social, economic, political, organizational and nonfunctional risks associated to the parallel computing applications.