The four critical risks
These are the four critical risks of launching a new product. We want to have satisfactory answers for each of these before moving into the product build/delivery phase:
- Risk 1: Value risk - Will customers buy (or use) this product?
- Risk 2: Usability risk - Can customers figure out how to use this product?
- Risk 3: Feasibility risk - Given our skills, technology, and time available, can our engineers build this product?
- Risk 4: Business viability risk - Does this solution work for the business in terms of financial investment, time, IRR? Does it work for the marketing, sales, customer success, finance, legal, etc., departments?
- 122.02.02 Product Management - Not all product discovery will be successful
- 122.02.03 Product Management - Successful products require iterations
- 122.03.09 Product Management - Share learnings openly and often
- 122.07.03 Product Management - What is product discovery
- 122.07.04 Product Management - Product discovery requires iteration
- 122.07.07 Product Management - Risk 1 Value risk - Demand risk