Are you developing any Test plan or Test strategy for your project? Have you addressed all risks properly in your Test plan or Test strategy?
As testing is the last part of the project, it's always under pressure and time constraint. To save time and money you should be able to prioritize your testing work.
How will prioritize testing work? For this, you should be able to judge more important and less important testing work. How will you decide which work is more or less important? Here comes the need for Risk-Based Testing.
What Is Risk?
“Risk is future uncertain events with a probability of occurrence and potential for loss”
Risk identification and management are the main concerns in every software project. Effective analysis of software risks will help to effective planning and assignments of work.
In this article, I will cover what are the “Types of Risks”. In the next articles, I will try to focus on Risk Identification, Risk Management, and Mitigation.
Risks are identified, classified and managed before the actual execution of the program. These Risks are classified into different categories.
Categories Of Risks
#1) Schedule Risk: Project schedule get slip when project tasks and schedule release risks are not addressed properly. Schedule risks mainly affect a project and finally on company economy and may lead to project failure.
Schedules often slip due to the following reasons:
- Wrong time estimation
- Resources are not tracked properly. All resources like staff, systems, skills of individuals, etc.
- Failure to identify complex functionalities and time required to develop those functionalities.
- Unexpected project scope expansions.
#2) Budget Risk
- Wrong budget estimation.
- Cost overruns
- Project scope expansion
#3) Operational Risks: Risks of loss due to improper process implementation failed system or some external events risks. Causes of Operational Risks:
- Failure to address priority conflicts
- Failure to resolve the responsibilities
- Insufficient resources
- No proper subject training
- No resource planning
- No communication in the team.
#4) Technical Risks: Technical risks generally lead to failure of functionality and performance.
Causes of Technical Risks are:
- Continuous changing requirements
- No advanced technology available or the existing technology is in the initial stages.
- The product is complex to implement.
- Difficult project modules integration.
#5) Programmatic Risks: These are the external risks beyond the operational limits. These are all uncertain risks are outside the control of the program. These external events can be:
- Running out of the fund.
- Market development
- Changing customer product strategy and priority
- Government rule changes.
These are all common categories in which Software Project Risks can be classified. I will cover in detail “How to identify and manage Risks?” in the next article.