Potential software failures present a sizable risk element in the design and development of many systems. In this paper, we augment the Software Function-Failure Design method, which is capable of predicting potential software failures in the very early stages of design, with the Risk in Early Design technique. This synergistic combination allows a risk assessment to be conducted at an early time in the software development process when traditional techniques are not applicable. The results are concise risk statements regarding the potential failure of functionalities with likelihood and consequence quantifications that can be used as part of a risk management program. The process is illustrated using a software failure database for the NASA Mars Exploratory Rover.