Based on our National Science Foundation (NSF) STEM I-Corp research*, these are the top 12 product development risks companies identified (not in any particular order). Risks areas include: Disruptive new technologies on the horizon that could drive down demand or render the product obsolete. Launching a product in new countries; strict legal requirements making it […]
First stop of a roadshow starting with the Wright Brothers Institute – Innovation runway for the Air Force Research Lab in Dayton, OH. The Product Risk Framework team with Pinaki Saha, EIR and co-founders, Mary Drotar and Kathy Morrissey. Next week, the roadshow continues in the great state of Californa… we will be visiting aerospace/defense contractors, […]
We are happy to announce that Pinaki Saha is our Entrepreneur in Residence (EIR) for the Product Risk Framework, a business intelligence risk management software tool for product developers. He is assisting us with market strategy, product onboarding, growth hacking, and partnerships. Pinaki has been in the high tech industry for 20+ years. A nuclear […]
An enterprise-wide Product Risk Framework license was sold to one of the most innovative Fortune 100 Companies in the world. This tool was adopted to root out the most impactful product idea uncertainties and risks that lead to product failure. Product Risk Framework licenses were also sold to a major healthcare insurance provider to evaluate […]
An approach to leading teams is “leading by asking questions.” Think of it as the leader owning the questions and the team owning the answers . The leader is not expected to have all the answers but to ensure the team gets to a solution.
It is the leader’s responsibility to provide the necessary guidelines, so the team can make adaptable and fast decisions.
The first step in making your strategy adaptable to uncertainty is to identify current assumptions, the kinds of uncertainties to monitor and establish a feedback mechanism.
In everyday conversation we tend to think of “risk” as something negative to be avoided, and “assumption” as something we believe or find acceptable. Such generalities can get confusing, so Strategy 2 Market developed a cheat sheet for risk terminology.
How can established organizations be more nimble and adaptable? This is where entrepreneurial techniques, like experimentation and Exploratory PD, can be leveraged.
One of the defining characteristics of product development is making decisions and judgements, in the face of uncertainty. Exploratory Product Development (ExPD) is based on the premise of reducing risks and uncertainty.