To solve this question, the user needs to know about software development and quality assurance concepts.

The process described in the question is known as Risk Management. Risk management is the process of identifying, assessing, and prioritizing risks that can affect a project or organization. In the case of software development, risk management involves identifying possible software failures or defects and evaluating the likelihood of these failures occurring.

Option A, Contingency Planning, is incorrect. Contingency planning refers to the process of developing a plan of action to respond to unexpected events or situations. While risk management may involve some contingency planning, it is not the same thing.

Option C, Configuration Management, is incorrect. Configuration management is a process that helps organizations manage changes to software, hardware, or other IT assets. While it is an important aspect of software development, it is not the same thing as risk management.

Option D, Process Improvement, is incorrect. Process improvement refers to the ongoing effort to improve the quality and efficiency of software development processes. While it may involve some risk management activities, it is not the same thing.

Therefore, the correct answer is:

The Answer is: B. Risk Management.