Which testing technique evaluates components based on executing the software?

Dynamic testing evaluates components by actually executing the software to observe its behavior and outcomes under various conditions. This technique focuses on the run-time aspects of a system and is essential for verifying that the software behaves as expected when it is operational. Through dynamic testing, testers can uncover issues related to performance, memory usage, and user interactions that static testing methods would miss, as those do not involve running the program.

In dynamic testing, various test conditions and inputs are applied to execute the software, allowing testers to interact with the system and verify its responses. This hands-on approach is fundamental for identifying runtime errors and ensuring that the software functions as intended in a real environment, revealing issues that may not be apparent through code inspections or static analysis.

The other options do not involve executing the software in a similar manner. Static testing, for example, analyzes the code, requirements, or design without running the program. Fault attack and error guessing also have different focuses and do not center on the execution of the software to evaluate performance and behavior. Therefore, dynamic testing is the clear choice as it directly assesses the software in action.