The Product Risk Framework’s value proposition is to help companies reduce product uncertainty and to build confidence in the pursuit of riskier, higher-return projects.
The Product Risk Framework® business intelligence software tool is nominated for the Edison Award in Innovation Services.
The founders, Drotar and Morrissey discovered that companies lack a strong grasp of the uncertainty and risk in their product development projects, and frequently take on projects that are riskier than perceived. Surprises cause delays, and projects that should already have been killed are a drain on time and resources that can easily amount to $millions for a single failed product.
The Product Risk Framework software tool leverages behavioral economics principles to root out uncertainties, while tracking risk reduction progress from idea through launch, and enhancing decision-making through data visualization. This tool is designed to help project teams to drive down and reduce the most significant product uncertainties and risks.
The Product Risk Framework is also a recipient of an NSF STEM I-Corp grant, and it enabled an expanded reach into the product development community to study commercial feasibility. Through interviews with more than 100 product development professionals, the grant-funded research facilitated the identification of existing product development solutions and minimum viable product (MVP) input that was instrumental in informing the design and development of the Product Risk Framework.
Request a Product Risk Framework demo at https://www.productdevelopmentrisk.com/get-started/ or call Mary Drotar at 708.829.7470.
Read the Press Release.