Risk is an interesting concept because there are a number of definitions and interpretations.  And this bears on quality because the lack of consistency can make deployment difficult.

Two elements to risk can be seen in the below definitions. There is upside risk and there is downside risk.  Some risk definitions have this and others don’t.

Upside risk is opportunity risk, the reward that can be achieved in undertaking a new endeavor. Downside risk is the risk of loss. For example, project risk is the inability to achieve project objectives within cost, schedule, and quality constraints. Process risks are the risks of producing nonconforming products or services due to unstable and incapable processes. Continue reading →