This document discusses the opportunities and risks of selecting open source software versus vended software for libraries. It covers topics like project management, functional requirements, and evaluating different options. Open source software provides benefits like customization and cost savings but also risks around support, documentation, and reliability. Vended products offer stability, support, and standardization at a higher cost with less flexibility. The document provides examples of open source and vended software options for different library systems and suggests steps for evaluating and selecting the ideal solution based on a library's unique needs and resources.