Most teams start by writing test cases. That's backwards. Before you decide what to test, you need to know what could go wrong and what it would cost. This video walks through gathering stakeholder fears, converting them into explicit risk statements, and quantifying impact with three-point estimation.
Research: https://beyondquality.org/research/testing_economics/step1.html
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How to Identify Risks That Actually Matter Most For Testing | NatokHD