The major risk involved in STP is Quality.
And the quality is diectly proportional to 

1)the test case used for that module/AUT.
2)the number of bug's found.
3)the number of bug's get fixed.
And finally the AUT should meet the SRS.

What is Risk?
“Risk are future uncertain events with a probability of 
occurrence and a potential for loss”

Risk identification and management are the main concerns in 
every software project. Effective analysis of software 
risks will help to effective planning and assignments of 
work.

In this article I will cover what are the “types of risks”. 
In next articles I will try to focus on risk 
identification, risk management and mitigation.

Risks are identified, classified and managed before actual 
execution of program. These risks are classified in 
different categories.

Categories of risks:

Schedule Risk:
Project schedule get slip when project tasks and schedule 
release risks are not addressed properly.
Schedule risks mainly affect on project and finally on 
company economy and may lead to project failure.
Schedules often slip due to following reasons:

Wrong time estimation 
 Resources are not tracked properly. All resources like 
staff, systems, skills of individuals etc. 
 Failure to identify complex functionalities and time 
required to develop those functionalities. 
 Unexpected project scope expansions. 
Budget Risk:

 Wrong budget estimation. 
 Cost overruns 
 Project scope expansion 
Operational Risks:
Risks of loss due to improper process implementation, 
failed system or some external events risks.
Causes of Operational risks:

 Failure to address priority conflicts 
 Failure to resolve the responsibilities 
 Insufficient resources 
 No proper subject training 
 No resource planning 
 No communication in team. 
Technical risks:
Technical risks generally leads to failure of functionality 
and performance.
Causes of technical risks are:

 Continuous changing requirements 
 No advanced technology available or the existing 
technology is in initial stages. 
 Product is complex to implement. 
 Difficult project modules integration. 
Programmatic Risks:
These are the external risks beyond the operational limits. 
These are all uncertain risks are outside the control of 
the program.
These external events can be:

  Running out of fund. 
  Market development 
  Changing customer product strategy and priority 
  Government rule changes.