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The elimination of bugs in software and flaws in hardware. Defect management is part of a software or hardware development project.
Software defects are expensive. Moreover, the cost of finding and correcting defects represents one of the most expensive software development 
activities. For the foreseeable future, it will not be possible to eliminate defects. While defects may be inevitable, we can minimize their number and impact on our projects. To do this development teams need to implement a defect management process that focuses on preventing defects, catching defects as early in the process as possible, and minimizing the impact of defects. A little investment in this process can yield significant returns.
Test Strategy:
It is a company level document and developed by QA category people like QA and PM. This document defines "Testing Approach" to achieve testing objective. Test strategy is the freezed part of BRS from which we get Test Policy and Test Strategy.
Components in the Test Strategy are as follows:
1. Scope and objective
2. Business issues
3. Roles and responsibilities
4. Communication and status reporting
5. Test deliverability
6. Test approach
7. Test automation and tools
8. Testing measurements and metrices
9. Risks and mitigation
10. Defect reporting and tracking
11. Change and configuration management
12. Training plan
Test Plan:
Test plan is the freezed document developed from SRS, FS, UC. After completion of testing team formation and risk analysis, Test Lead is preparing test plan document in term of what to test, how to test, who to test, and when to test.
There is one Master Test Plan consists of reviewed Project Test Plan and Phase Test Plan. so there is general talk about Project Test Plan.
Components are as follows:
1. Test Plan id
2. Introduction
3. Test items
4. Features to be tested
5. Features not to be tested
6. Approach
7. Testing tasks
8. Suspension criteria
9. Features pass or fail criteria
10. Test environment (Entry criteria, Exit criteria)
11. Test delivarables
12. Staff and training needs
13. Responsibilities
14. Schedule
15. Risk and mitigation
16. Approach
This is one of the standard approach to prepare test plan document, but things can vary company-to-company.
A Test Plan describes the approach, Features to be tested, Testers assigned, and whatever you plan for your project. A Test Plan is usually prepared by Manager or Team Lead. That is true but not exclusively. It depends on what the test plan is intended for. Some companies have defined a test plan as being what most would consider a test case. Meaning that it is for one part of the functionality validation.
A strategy is how you are going to address testing for the project. Some companies have a strategy or approach section in the test plan, others have a seperate document.
In some companies a general strategy document is created. This outlines what is expected/advised (depending the companies policy) to do. The test plan documents at this moment are based on the organizational strategy and as such are more light weight.
