If you’re a Product Manager in a startup working on a 0-1 Product, here’s a useful framework for managing risks, that can be included in your Product Strategy. This guideline can also be used while managing your prioritization tasks in your roadmap.
- Market Risk
- Do people want this product
- How many existing and future customers would be interested
- Is it addressing people pain point or unmet need
- Usability Risk
- How easy and accessible is it to users
- How high is the technical learning curve
- Rate the Frustration Factor during User Acceptance Testing
- Feasibility Risk
- Engineering, Compute, Infrastructure and Customer Support resources
- All the above factors plotted against company’s financial runway
- Business Sustainability Risk
- How valuable is the product / feature for company’s long term vision
- Reusability factor across engineering, data and compute and customer needs
Here’s a downloadable sheet.
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