Are you formulating a Test plan or method for your project? Have all the threats been accurately accounted for within your Test plan or method?
As the testing phase is traditionally the concluding stage of the project, it often faces pressing demands and time limitations. In order to conserve resources and time, it’s crucial to effectively prioritize your testing tasks.
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But how can you assign priority to testing tasks? For that, you need to distinguish between tasks of higher and lower importance. And how do you determine which tasks have greater or lesser significance? Here’s where Risk-Based Testing comes into play.
What You Will Learn:
What Defines Risk?
“Risk is a future event with uncertain outcome, that carries a possibility of happening, and has the potential to result in loss”.
Identifying and controlling risks are pivotal considerations in each software project. An effective software risk appraisal will assist in strategic work assignment and accurate planning.
This tutorial will delve into the different “Risk Types”. Our forthcoming tutorials will focus on Risk Identification, Risk Management, and Mitigation strategies.
Risks are identified, sorted and managed before the program’s actual execution phase. These Risks are divided into several categories, as detailed below.
Types of Risks
#1) Schedule Risk
Lapses in project scheduling occur when project tasks and scheduling release risks aren’t adequately addressed. This primarily impacts the project, and eventually affects the company’s financial status, potentially leading to project failure.
Schedule lapses commonly occur due to the following reasons:
- Incorrect time estimation.
- Resources not appropriately tracked. This includes all resources such as personnel, systems, individual expertise, etc.
- Inability to recognize complex functions and the time required to develop them.
- Unexpected increases in project scope.
#2) Budget Risk
Budget risk tends to involve the following elements:
- Inaccurate budget estimations.
- Exceeding cost projections.
- Expanded project scope.
#3) Operational Risks
Risks of loss due to inappropriate process implementation, failed systems, or unforeseen external event risks.
Sources of Operational Risks:
- Unresolved priority conflicts.
- Failure to complete tasks.
- Inadequate resources.
- Lack of proper job-specific training.
- Absence of resource planning.
- Poor team communication.
#4) Technical Risks
Technical risks usually breed functionality and performance failures.
Technical Risks often arise from:
- Frequent changes in requirements.
- Unavailable advanced technologies or existing technology being in its nascent stages.
- The complexity of product implementation.
- Complex project module integration.
#5) Programmatic Risks
These entail risks outside the operational limits that are uncertain and beyond the control of the program.
Typical external events can be:
- Exhaustion of funds.
- Changes in the market.
- Shifting customer product strategies and priorities.
- Alterations in government regulations.
Summary
The above are the most common categories to which Software Project Risks can be assigned.
This tutorial hopefully provides a clear understanding of what constitutes a Risk and its various categories.
Please leave your thoughts in the comments section below!