Risk-based testing: Risk analysis fundamentals and metrics for software testing including a financial application case study

The idea of risk-based testing is to focus testing and spend more time on critical functions. By combining the focused process with metrics it is possible to manage the test process by intelligent assessment and to communicate the expected consequences of decisions taken. This paper discusses an approach to risk-based testing and how risk-based testing was carried out in a large project in a financial institution. The paper concludes with how practical risk-based testing experience should inform theory and provide advice on organizational requirements that are necessary to achieve success. (C) 2000 Elsevier Science Inc. All rights reserved.