On April 1, 2009 I have submitted together with Georg Hodosi and Ali Yakhlef from School of Business at Stockholm University a project proposal to Swedish Research Council having the title: “A methodology for assessing the risk exposure to support IT outsourcing decisions”. As we know the decision process for companies to outsource information technology (IT) or not is a substantial business change and in many cases the competence to take such decisions is limited and has major consequences for the company’s future performance. Therefore in this project we have proposed the development of a methodology that can be used for assessing the risk exposure in support of IT outsourcing (ITO) decisions based on using Transaction Cost Theory (TCT) in order to give us a quantitative measure of the IT outsourcing risks.