Business process outsourcing (BPO) project refers to projects where service providers accept, manage, and control business processes that a client entrusts and selects (Heffes, 2005; Liu et al., 2017). BPO projects can reduce cost and enhance the competitiveness of firms (Beverakis et al., 2009), but the implementation of these projects is unsatisfactory. According to a recent survey, approximately 50% of outsourcers believe that their outsourced business processes do not generate additional value, provide special knowledge, or reduce the expected cost for business operations management (Fersht, 2014). The process of BPO project implementation is subjected to numerous risks. Although previous studies investigated the relationship between risk and outsourcing project success, some research gaps remain unaddressed. Empirical evidence is lacking in the investigation of this relationship. For example, Alipour et al. (2011) argued that performance, financial, psychological, and strategic risks have negative effects on BPO projects, but no solid evidence was provided. Perçin (2008) divided BPO risks into six categories, namely, information security and privacy, hidden cost, loss of management control, employee morale, business environment, and service provider. They further proposed a fuzzy multi-index evaluation method to evaluate the risk effect, but the results lack practical data support. Therefore, the mechanism of how risks influence the success of BPO projects remains unclear. Previous studies also lack a comprehensive examination into different BPO risk types. Shi (2007) indicated that market performance and organizational risks of a customer will significantly affect long- and short-term performance of BPO; however, the risks of BPO proposed in the study are not comprehensive and only include three types. Based on a survey of 218 BPO projects in 126 banks, Gewald and Dibbern (2009) empirically showed that BPO project risk significantly affected success, but the effect of each type of risk (financial, psychological, and strategy risks) on performance was not analyzed. Herath and Kishore (2009) found that differences exist in the effect of risk on BPO project satisfaction in different contexts. They examined the risk of offshore BPO and contended that its impact differs from that of onshore BPO project risk. These studies have initially identified that BPO project risk has a negative effect on outsourcing project results (e.g., satisfaction). However, these studies did not conduct comprehensive risk identification. Many other risks exist in the BPO process (e.g., implementation and customer risk), but evidence for the effects of these additional risks are lacking. Further clarification on the mechanism of how different risks influence BPO project success or satisfaction is beneficial for developing differentiated and effective risk management strategies. Therefore, the first objective of this research is to address the effect of different types of risks on BPO project satisfaction.