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 information technology projects.
Strategy 2 Market sold an enterprise-wide Product Risk Framework license to a Fortune 100 Company, known as one of the most innovative companies worldwide. The Product Risk Framework is a business intelligence software tool that helps project teams to make better decisions that lead to product success.
The Product Risk Framework will enable project teams across the enterprise to identify, evaluate and prioritize the most impactful sources of uncertainty and risk associated with a product idea. It employs a variety of behavioral economics approaches to root out uncertainties and risks, including a risk framework, reference class forecasting, and nudges.
Also, the Product Risk Framework monitors the reduction of product uncertainty and risk throughout the entire product development process, from idea through launch. Risk profile ‘snapshots’ easily communicate progress in reducing a product’s risk and allow risk evaluation of the entire product portfolio.
Strategy 2 Market also sold Product Risk Framework licenses to a major healthcare insurance provider located within the Chicago-area. The healthcare insurance provider found value in using the Product Risk Framework in evaluating information technology projects across the enterprise.
The Product Risk Framework received an NSF STEM I-Corp Grant sponsored by the University of Chicago. Research indicated that companies found multiple uses of the Product Risk Framework for their specific needs when uncertainty and risk were high: notably, countries of launch for pharmaceutical companies when entering a new market and corporate incubators that develop breakthrough products that need to transition seamlessly to the core business.
Please go to this link to learn more about the Product Risk Framework.