Despite several decades of research on risk mitigation strategies and quality assurance, the complex computational systems poses big challenges for software practionners. The software evolution and pervasive requirements of complex projects need an effective means of tackling software risk management and quality assurance. The heterogeneity in nature of data, communicating interoperable devices, complex software architectures, products and advanced computing resources seek a prime consideration of risk management because of massive ubiquitous information flow amongst interoperable systems. The purpose of this paper is to provide a major contribution towards presenting a state of art on risk management, quality assurance and various risks management strategies in complex computing environments i.e. Big data, Artificially Intelligent computing and Cloud computing.