A method for profiling information technology (IT) service contract risks and generating contract prices includes analyzing historical IT service contract risk data to create a set of IT service contract risk profiles, where the historical IT service contract risk data includes contract risks and percent gross profit associated with a historical set of contracts, where each IT service contract risk profile is a probability distribution function of achieving a percent gross profit associated with a subset of contracts corresponding to particular set of contract risk values, and creating a mapping between a particular IT service contract risk profile and a new IT service contract associated with the set of contract risk values for the IT service contract risk profile to determine an optimum price for the new IT service contract.
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