Risk Based Testing is an approach that requires skill and experience to isolate the most important tests on the basis of technical and business constraints. Risk based testing is a powerful testing technique that enables the QA teams to streamline their testing efforts. Organizations that implement this technique are in a better knowhow of the risks that are inherent in their applications and of the risks that are actually significant. This knowledge is much helpful in exploiting the relationship between risk and testing efforts, thus, bringing an objectivity to the test designing and test management. It allows QA teams to make informed decisions while setting a clear test exit criteria.
Over years computer scientists have come to accept that no amount of testing can ever guarantee that a piece of software is completely defect free. It is because of the inherent nature of information dependent software that there exists infinitely large set of test cases even for the smallest of programs. Hence, testing creates bounds and classes in order to limit the job.