Quality Risk Analysis: An Approach for the Refinement of Traditional Risk Analysis

Risk analysis is the systematic study of uncertainties and risks we encounter in business, engineering, public policy, and many other areas. Risk analysts seek to identify the risks faced by an institution or business unit, understand how and when they arise, and estimate the impact (financial or otherwise) of adverse outcomes. Since it is not possible to test everything, it is necessary to pick a subset of the overall set of tests to be run. Quality risks analysis can help one focus the test effort.

This paper first describes the traditional risk analysis and then the quality risk analysis. After that techniques of quality risk analysis are discussed followed by quality risk analysis process.