1. A computer implemented method for automatic identification and notification of relevant program defects, the computer implemented method comprising: receiving a program defect description from a user of a defect database; responsive to determining that the program defect description is new, creating an event record of the program defect description; extracting each word and each phrase of the program defect description in sequential order from the program defect description, wherein the each phrase comprises at least two words; determining whether the each word and the each phrase are included in a defect dictionary on the defect database; responsive to locating the each word and each phrase in the defect dictionary, updating the defect dictionary to include the each word and the each phrase from the program defect description; responsive to the absence of the each word and the each phrase in the defect dictionary, adding the each word and the each phrase to the defect dictionary; searching a plurality of defect databases for the each word and the each phrase; responsive to locating at least one defect database among the plurality of defect databases containing the each word and the each phrase, calculating a final word relevancy percentage for the each word and the each phrase, wherein calculating a final word relevancy percentage for the each word and the each phrase further comprises: calculating an initial word relevancy percentage for the each word and the each phrase within the program description, wherein determining the initial word relevancy percentage comprises using a record maintained in the defect dictionary, wherein the record indicates relevancy of the each word and the phrase, wherein determining the relevancy is comprises determining how often users use the each word and the each phrase in the defect descriptions; receiving a defect database relevancy ranking table, wherein the defect database relevancy ranking table lists each defect database in the plurality of defect databases, wherein the each defect database listed is associated with a relevancy percentage assigned by the user; receiving a program component factor table, wherein the user assigns relevancy percentages to each program component based on relevancy to the program defect description, wherein the each program component comprises a set of components in a program; receiving the source factor percentages assigned by the user to the defect databases, wherein the source factor percentages are percentages assigned by the user depending on whether the defect databases are open source databases or closed source databases; calculating a final word relevancy percentage for the each word and the each phrase using the initial word relevancy percentage, the defect database relevancy ranking table, the program component factor table, and the source factor percentages in the calculation of the final word relevancy percentage for the each word and the each phrase; and sending relevant defects and the final word relevancy percentage to a program developer to repair the program, wherein the program developer utilizes the relevant defects.
5. The computer implemented method of claim 1 , wherein the plurality of defect databases each include a defect dictionary.