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While important headway has been made in assessing and resolving ISD risk, the literature shows that new and salient risks emerge outside the scope of extant risk management regimes. As a consequence, organizations still struggle with leveraging new technology as projects continue to fail at almost the same rate, albeit for different reasons. Understood as the distinction between reality and possibility, risk is inherently intertwined with practice and rooted in the knowledge, goals, power, and values of specific actors in particular contexts. Hence, to understand how risks emerge, we present a longitudinal case study in which we trace the origin and locus of risks in contemporary ISD practices. We draw on these insights to theorize information technology risk as increasingly interstitial, originating from sources positioned in between established practices and therefore outside the scope of conventional risk analyses. 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