What Is Risk Analysis?

Broadly speaking, risk analysis is made up of two separate but related activities. One is the creation and maintenance of a risk prediction model based on historical data surrounding an activity. This is historical risk analysis. The other is the application of the risk prediction model to a current activity. This is current risk analysis. The goal of historical and current risk analyses is to understand areas of risk with the intention of mitigating those risks.

During the final few months of 2006 before the Windows Vista operating system shipped, a risk assessment was done on every fix that was made. In each case, a detailed risk analysis was completed by a senior test architect. The initial risk analysis report was ...

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