Managing risks in Software Process Improvement (SPI) is a key point of software success. A software risk is considered as an essential characteristic of software development process which if ignored will increase the chance of project failure. For this purpose different risk management approaches are developed. These approaches lead to the identification, assessment and control of risk occurrence in software projects. Collaborative Practice Research (CPR) is one of the action research approaches for managing risk in SPI. In this approach the focus is on gathering information regarding SPI and acknowledging risk management in process development by developing risk assessment strategies and models. The main challenge of this action research approach is to validate the developed risk approach. This paper has a critical review on the existing research approach i.e. CPR. It also provides an enhanced form of CPR which modifies the current CPR approach by including a risk validation activity.