Doing more with less has become a mantra for IT organization in today's business environment. Nowadays, there are more projects, more competitive pressures and greater failure risk which needs to be managed with fewer resources with tighter timelines. But with all these constraints, there's simply no room for compromise on quality and stability in today's competitive world especially in case of important business critical applications. So, instead of doing more with less and risking late projects, increased costs or low quality, we need to find ways to achieve better with less. The focus of testing has to be placed on aspects of software that matter most with an aim of reducing the risk of failure as well as ensuring the quality and stability of the business applications. This can be achieved by applying the principle of Risk Based Prioritization of tests, known as Risk-based testing (RBT). The aim of Risk Based testing approach is to ensure that appropriate testing activities are identified and prioritized based on risk. The primary role of risk-based testing is to optimize available resources and time without affecting the quality of the product. RBT approach reduces the risk of failure to the business and increase customer satisfaction. In this light, this paper presents the progress different risk-based testing metrics to measure and control test cases and test activities progress, efforts and costs. IT organizations must adopt a focused approach and a comprehensive methodology for end-to-end testing. Risk-based testing helps quantify and mitigate risks in the lifecycle of applications, and prioritize tests more effectively. Under RBT, we create Optimized Regression Test Suite based on Business Severity and Priority. The Success of testing team will be the ability to identify high risk defects in software and ensure they are fixed.

Risk-based Testing Value-based Testing Value-based quality analysis Software testing test case prioritization