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Here are sample test execution criteria:
1. Complete unit test and assembly test
2. Complete product test documentation
3. Establish stable test environment
4. Establish support requirement
1. All test scripts are executed
2. All defects are resolve
3. All critical issues are resolve
4. Test result is signed-off
Hope this helps.
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in my observation of this situation
"1. Complete unit test and assembly test" could be omitted, but it depends on the money, usully we start executing after the TC and stable test environment are done..