Regression testing is a testing to test the modified software during the maintenance level. Regression testing is a costly but crucial problem in software development. Both the research community and the industry have paid much attention to this problem. The paper try to do the survey of and current practice in industry and also try to find out whether there are gaps between them. The observations show that although some issues are concerned both by the research community and the industry. This research discusses the problems about current research on regression testing and quality control in application of regression testing in the engineering practice, and proposes a practical regression method, combing with change-impact-analysis, business rules model, cost risk assessment and test case management. This paper presents an approach to prioritize regression test cases based on the factors such as rate of fault deduction, percentage of fault detected and the risk detection capability. The proposed approach is compared with previous approach using APFD metric. The results represent that propose approach outperforms the earlier approach.