Going through ISTQTB documents found term PRAM
Pragmatic Risk Analysis and Management
Could anyone out there provide a practical example of PRAM
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From this article:
"In pragmatic terms, "risk tolerance" is nothing more than a reflection of a given decision-maker's attitude in a given decision"
In my own head, I have always thought of it - much in the way the article does - as, "D.A.D"
D - Define
A - Assess
D - Decide
What do you want to accomplish? What value are you adding? What will cost be in both money and workforce?
What are my risks? What are the impacts of not doing this? What are the potential risks if you do?
Always have a mitigation strategy for your risks. Be agile.
I hope you found this helpful!