Product Risk Management - Development Risk

Product risk management for development addresses the following elements

• Product may not be delivered on time to take advantage of market opportunity
• New technology may not work out
• Product may not meet its technical requirements

Schedule Risk

There are many, many ways in which development can be made faster.

A key way is to identify the absolutely necessary features and development steps necessary for initial product introduction.

New technology

It is advisable to identify all risk areas at the start of the project. The identified risk areas should be tested as early as possible.

A backup plan should be put in place to handle the eventuality of an at risk technology not working out.

Does not meet specifications

We should test for key specifications early in the design cycle and identify alternative approaches.

In many areas we can introduce the product with lowered specifications in markets where that particular specification is not important. The product specification can be improved after its initial introduction and improved versions can be marketed.

This is often the case for unit cost. It is often possible to reduce the unit cost of the product after its introduction by taking away the design margins.