Although test managers are tasked with helping manage project risks, risk management practices used on most software projects produce only an illusion of safety. Many software development risks cannot be managed because they are unknown, unquantifiable, uncontrollable, or unmentionable. Rather than planning only for risks that have previously occurred, project and test managers must begin with the assumption that something new will impact their project. The secret to effective risk management is to create mechanisms that provide for the early detection and quick response to such events--not simply to create checklists of problems you've previously seen. Pete McBreen presents risk "insurance" as a better alternative to classic risk management. He offers a risk insurance model, which helps insure projects against incomplete information, minor slippages that add up to major delays, late breaking bad news, and failure to learn from the past. Join Pete to learn how your testing projects can be flexible, responsive, and better able to deal with your project's risks--both known and unknown.