In software testing Risks are the possible problems that might endanger the objectives of the project stakeholders. It is the possibility of a negative or undesirable outcome. A risk is something that has not happened yet and it may never happen; it is a potential problem.

In the future, a risk has some probability between 0% and 100%; it is a possibility, not a certainty.

The chance of a risk becoming an outcome is dependent on the level of risk associated with its possible negative consequences.

For example, most people are expected to catch a cold in the course of their lives, usually more than once. But the healthy individual suffers no serious consequences. Therefore, the overall level of risk associated with colds is low for this person. In other hand the risk of a cold for an elderly person with breathing difficulties would be high. So, in his case the overall level of risk associated with cold is high.

We can classify risks into following categories:

1. Product risk (factors relating to what is produced by the work, i.e. the thing we are testing).
2. Project risk (factors relating to the way the work is carried out, i.e. the test project)

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