Exploratory Testing is not as widely used as it could be, because management doesn’t want it.
Stated reasons for this could be unaccountable, unstructured, sloppy, non-scientific etc, reasons that can be refuted by communication.
But I think the real reason is something Exploratory Testing can’t have: a controlled process.
Management/Companies want to have a plan with dates and costs; they want a test manager to be able to say how many percent of the testing is completed; they incorrectly think that software development is a lot like manufacturing.
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