In my experience, testing's role has changed from being there to stop software from being delivered until all the risks had been tested and has become an information provider to the product owner. At the end of the day it is the product owner who is taking the risk and it is up to the test team to ensure that he/she knows what risk they are taking by saying 'ship it' - because more often than not they will!
I think this is fundamental to releasing good software in a timely manner. Saving up risk is like buying your weekly groceries on credit - you've still got to pay for it at the end of the month. Since we introduced our weekly delivery cycle process in my organization, it has been more important than ever to identify and assess risks as early as possible.
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