diff --git a/spring-cloud-release-tools-core/src/main/java/org/springframework/cloud/release/internal/pom/PomReader.java b/spring-cloud-release-tools-core/src/main/java/org/springframework/cloud/release/internal/pom/PomReader.java
index 9ac343d8..594aaae5 100644
--- a/spring-cloud-release-tools-core/src/main/java/org/springframework/cloud/release/internal/pom/PomReader.java
+++ b/spring-cloud-release-tools-core/src/main/java/org/springframework/cloud/release/internal/pom/PomReader.java
@@ -38,6 +38,9 @@ class PomReader {
 		if (file.isDirectory()) {
 			pom = new File(file,"pom.xml");
 		}
+		if (!pom.exists()) {
+			return null;
+		}
 		String fileText = "";
 		try(Reader reader = new FileReader(pom)) {
 			if (file.isFile()) {
diff --git a/spring-cloud-release-tools-core/src/main/java/org/springframework/cloud/release/internal/pom/PomUpdater.java b/spring-cloud-release-tools-core/src/main/java/org/springframework/cloud/release/internal/pom/PomUpdater.java
index bfeccea7..ab53c452 100644
--- a/spring-cloud-release-tools-core/src/main/java/org/springframework/cloud/release/internal/pom/PomUpdater.java
+++ b/spring-cloud-release-tools-core/src/main/java/org/springframework/cloud/release/internal/pom/PomUpdater.java
@@ -68,6 +68,10 @@ class PomUpdater {
 			return false;
 		}
 		Model model = this.pomReader.readPom(rootPom);
+		if (model == null) {
+			log.info("Failed to read the model");
+			return false;
+		}
 		String artifactId =  artifactId(model);
 		if (!versions.shouldBeUpdated(artifactId)) {
 			log.info("Skipping project [{}] since it's not on the list of projects to update", model.getArtifactId());
diff --git a/spring-cloud-release-tools-core/src/test/java/org/springframework/cloud/release/internal/pom/PomReaderTests.java b/spring-cloud-release-tools-core/src/test/java/org/springframework/cloud/release/internal/pom/PomReaderTests.java
index d4a1ee19..e59ec2d4 100644
--- a/spring-cloud-release-tools-core/src/test/java/org/springframework/cloud/release/internal/pom/PomReaderTests.java
+++ b/spring-cloud-release-tools-core/src/test/java/org/springframework/cloud/release/internal/pom/PomReaderTests.java
@@ -68,10 +68,8 @@ public class PomReaderTests {
 	}
 
 	@Test
-	public void should_throw_exception_when_file_is_missing() {
-		thenThrownBy(() -> this.pomReader.readPom(new File("foo/bar")))
-				.hasMessageStartingWith("Failed to read file: ")
-				.hasCauseInstanceOf(IOException.class);
+	public void should_return_null_when_file_is_missing() {
+		then(this.pomReader.readPom(new File("foo/bar"))).isNull();
 	}
 
 	@Test
diff --git a/spring-cloud-release-tools-core/src/test/java/org/springframework/cloud/release/internal/pom/PomUpdaterTests.java b/spring-cloud-release-tools-core/src/test/java/org/springframework/cloud/release/internal/pom/PomUpdaterTests.java
index 53c117b2..dc1e38a5 100644
--- a/spring-cloud-release-tools-core/src/test/java/org/springframework/cloud/release/internal/pom/PomUpdaterTests.java
+++ b/spring-cloud-release-tools-core/src/test/java/org/springframework/cloud/release/internal/pom/PomUpdaterTests.java
@@ -81,6 +81,14 @@ public class PomUpdaterTests {
 				.then(this.pomUpdater.shouldProjectBeUpdated(springCloudSleuthPom, this.versions)).isTrue();
 	}
 
+	@Test
+	public void should_not_update_pom_when_project_is_on_the_versions_list_but_there_is_no_pom() throws Exception {
+		File springCloudSleuthPom = file("/projects/spring-cloud-sleuth/empty-folder");
+
+		BDDAssertions
+				.then(this.pomUpdater.shouldProjectBeUpdated(springCloudSleuthPom, this.versions)).isFalse();
+	}
+
 	@Test
 	public void should_not_update_the_pom_if_no_changes_were_made() throws Exception {
 		File originalPom = pom("/projects/project");
diff --git a/spring-cloud-release-tools-core/src/test/resources/projects/spring-cloud-sleuth/empty-folder/.gitkeep b/spring-cloud-release-tools-core/src/test/resources/projects/spring-cloud-sleuth/empty-folder/.gitkeep
new file mode 100644
index 00000000..e69de29b