<p>Software quality and software risk management are tightly intertwined. Software risk management refers to the management of risks that may arise during the development of software-intensive systems. These risks may impact on the schedule, the software quality, or both. Risk management in a dispersed, agile software development environment is a challenge for big software firms. Teams having different characteristics and levels of experience are spread throughout various regions or countries. Thus, the process of risk management takes longer and is more challenging as those teams grow. Semantic models in the form of ontologies have been widely used in the field of software engineering and even software risk management to model the data for a certain domain, encourage knowledge sharing and reuse, and improve semantic interoperability. This paper examines existing risk management ontologies in the Distributed Agile Software Development (DASD). It additionally proposes an ontology entitled <i>RiskDASD</i> for the risk management process in the DASD environment in an attempt to solve certain issues and challenges in existing literature. By providing a proper and shareable representation of data among distributed teams on software risk management, the proposed ontology aims to improve on software quality. The proposed ontology reuses concepts from pre-existing ontologies. <i>RiskDASD</i> has been evaluated using tools and metrics and by domain experts from industry.</p>