Software Testing is critical phase of any software development project. Developers and testers must ensure that the new developed Application/Product meets the requirements of the customer and products are reliable and able to operate consistently to the laymen under any circumstances.

The major thing faced by the Software Organizations is the changing requirements from the Customer’s end. The taste of the Customer is very volatile. The other things that also harm the Software Organizations are the cancellation of the project before being completed this might be due to late deliveries, lack of new technologies, lack of Customer communication etc.

Such issues are related to all the Software Development organizations; the success of a project is only to be said is the Risk factors are handled successfully. To manage the risks it is the responsibility of the Risk Management Team by creating such an environment for the beginning so that, the risk factor should be kept at it’s lowest till the end. The Risk Management generally follows two activities named Risk Control and Risk Assessment.

Risk Assessment: All the Risk originating factors are considered and a list containing all the risk factors is prepared. Then their probability of occurrence and the loss is considered. Then all the danger-creating factors are ranked on the basis of their probability of danger creation.

Risk Control: At this moment, highest ordered risk factors need to be mitigated. The strategies are applied now to resolve the high danger risks. Now in the same manner all the danger levels are monitored and throughout the project the level of risk is being altered. Now this is the spot where the Software Organizations enjoy the success of risk free business.