In the modern era, the ideas related to software developments are totally replaced the old traditional software development to CBSD. CBSD is the approach that can provide reusability of components to develop new software under minimum chances of risks. Beyond the CBSD features, there are still some significant risks overall the development phase. Generally, the quality of a developed software is depending upon the component integration phase. Nevertheless, component integration phase plays a tremendous role in the success of CBSD that leads to develop new risk free software. The objective of this research was to identify all the risks in CBSD and applied risk reduction activities to mitigate these risks. On the basis of the literature survey, categorized the risks into different categories. For this, an online questionnaire was performed to identify the risks and the risk reduction activities. 85% results point out that CBSD approach is the best approach as compared to the traditional approach. 80% results show that it performs the risk reduction activities, then the quality of the product improves. However, it is a step towards the mitigation of the vulnerabilities and reducing the cost of maintenance.