Risk Management in Product Development
Risk Management in Product Development is the systematic identification, evaluation, and prioritization of potential risks in a product's lifecycle, followed by coordinated application of resources to minimize, monitor, and control the probability or impact of adverse events, while maximizing product success and stakeholder value.
Level 1: Emerging
At an emerging level, you are beginning to anticipate and identify risks in product development. You work under supervision to mitigate these risks, ensuring successful product launch and life cycle.
Level 2: Proficient
At a proficient level you are able to assess and mitigate risks associated with product development, making informed decisions to ensure successful launches and minimize negative impacts on product performance and business outcomes.
Level 3: Advanced
At an advanced level, you are adept at anticipating and mitigating risks throughout the product development lifecycle, ensuring that potential challenges are proactively addressed to drive successful product outcomes.
