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Software projects are increasingly geographically distributed with limited face-to-face interaction between participants. These projects face particular challenges that need careful managerial attention. While risk management has been adopted with success to address other challenges within software development, there are currently no frameworks available for managing risks related to geographical distribution. On this background, we systematically review the literature on geographically distributed software projects. Based on the review, we synthesize what we know about risks and risk resolution techniques into an integrative framework for managing risks in distributed contexts. Subsequent implementation of a Web-based tool helped us refine the framework based on empirical evaluation of its practical usefulness. We conclude by discussing implications for both research and practice.