Understanding product risk
Failing to understand product risk is one of the greatest threats to successful digital product development.
What are the most common product risks?
Many organisations can fall into 3 main corporate product traps which often result in product initiatives in large organisations failing. These traps are the build trap, the feasibility trap and the business viability trap. Each represents a different area of product risk covering utilisation or take-up, usability, technical feasibility and deliverability of your digital product or service.
“I’ve built a product but nobody uses it..”
Build or Value Trap
“I designed a product and it took longer than I thought to deliver it, or it we failed to deliver at all”
Feasibility Trap
“We’ve designed or built a product but my stakeholders don’t support it, legal won’t approve it and sales say they can’t sell it.”
Business Viability Trap
Get started with product risk
Would you like to learn more about product risk and how to avoid the common product traps? Watch our short video which explains the 3 corporate product traps and what to do to avoid falling into them (5:10 watch).
We help organisations understand and manage their product risk, contact us if you'd like to find out more.
Benefits of understanding and managing product risk?
Free consultation & digital product health check report
To help you on your journey developing your digital product, we offer the following absolutely free:
- 30 minute video consultation to discuss your product
- Health Check report with high level assessment of areas where you can improve your product development