How do you communicate and document your product risk assessment findings and recommendations?

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Product risk assessment is a process of identifying, analyzing, and prioritizing potential hazards or issues that could affect your product's quality, safety, performance, or compliance. As a product manager, you need to communicate and document your findings and recommendations clearly and effectively to inform your stakeholders and guide your actions. Here are some tips on how to do that.

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Jo Heron

Founder & President - Sisu Solutions Inc. 20+ years of CPG marketing and channel management expertise
Lars Bj?rstrup

Making software testing easy and fun for all

1 Define your scope and criteria

Before you start your product risk assessment, you need to define the scope and criteria of your analysis. What are the objectives, boundaries, assumptions, and limitations of your assessment? What are the sources of information, data, and evidence that you will use? What are the standards, regulations, or best practices that you will follow? How will you measure, rank, and compare the risks? By defining your scope and criteria, you can set clear expectations and avoid confusion or ambiguity.

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Jo Heron

Founder & President - Sisu Solutions Inc. 20+ years of CPG marketing and channel management expertise
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Agree on all points captured. I find also the following helpful: Research best practices for the industry your product competes in Ask for insights from key shareholders both internally and externally including consumers if financially feasible. These will help form your objectives and guideline parameters

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Enzo Lycke Henriksen

I help Agile organizations to deliver with the right quality and flow. Supporting with assessment, consultancy, coaching, services and training.
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Totally agree. To get started with PRA, do it as simple as possible. Have only probability and impact in your risk matric and make it work. use max 3-5 levels and then you can add more sources of information such as usage etc. Convert to risk categories high - medium - low and then deside how you attack e.g. user stories depending on each risk category.

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2 Use a consistent and transparent method

To communicate and document your product risk assessment, you need to use a consistent and transparent method that shows how you identified, analyzed, and prioritized the risks. You can use a framework or a tool, such as a risk matrix, a risk register, a FMEA (Failure Mode and Effects Analysis), or a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis, to organize and present your findings and recommendations. You should explain the logic, assumptions, and calculations behind your method, and provide evidence and references to support your conclusions.

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Jo Heron

Founder & President - Sisu Solutions Inc. 20+ years of CPG marketing and channel management expertise
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Agreed… the how in transparency is = as important as the why. I sometimes use the SAVE Harvard model in tandem with a SWOT. SAVE is a revised format of the “4 P’s”. Solution, Access, Value and Evaluation. These can be used at 30,000 feet but work well in doing risk assessments.

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Lars Bj?rstrup

Making software testing easy and fun for all
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As mentioned - use a recoginzed risk assement method depening on your industry and need. It could be a method like PRAM, PRA, PRISMA, FMEA, .. whatever method you use it will guide you and you will thereby be consistent and transparent in your product risk assesments

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3 Highlight the key findings and recommendations

Your product risk assessment should highlight the key findings and recommendations that are relevant and actionable for your stakeholders. You should summarize the main risks, their impacts, probabilities, and mitigation strategies, and prioritize them according to their urgency and importance. You should also provide clear and specific recommendations on what actions to take, who is responsible, when to do it, and how to monitor and evaluate the results. You should use visual aids, such as charts, graphs, tables, or diagrams, to illustrate your points and make them easy to understand.

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Jo Heron

Founder & President - Sisu Solutions Inc. 20+ years of CPG marketing and channel management expertise
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Agreed. This is the section that needs to be CONCISE. Support with graphics if graphic is understandable standing on its own.

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4 Tailor your communication and documentation to your audience

Depending on your audience, you may need to communicate and document your product risk assessment in different ways and formats. For example, you may need to prepare a detailed report for your technical team, a concise presentation for your senior management, or a brief summary for your customers or regulators. You should tailor your communication and documentation to your audience's needs, expectations, and preferences, and use appropriate language, tone, and style. You should also consider the feedback and questions that your audience may have, and address them proactively or respond to them promptly.

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Jo Heron

Founder & President - Sisu Solutions Inc. 20+ years of CPG marketing and channel management expertise
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Very thorough summary. To the author’s point, “you must keep your audience in mind”. To effectively “put an underline on it”… summarise the #1 priority/objective that will drive the message home for that audience at the end of your summary. This too can be tied back to the research ? asked earlier about what is important about your product to that audience.

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5 Review and update your product risk assessment regularly

Your product risk assessment is not a one-time activity, but a continuous process that requires regular review and update. As your product evolves, new risks may emerge, existing risks may change, or new information or data may become available. You should monitor and evaluate your product risk assessment regularly, and update your findings and recommendations accordingly. You should also communicate and document any changes or updates to your stakeholders, and keep them informed of the progress and outcomes of your actions.

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Jo Heron

Founder & President - Sisu Solutions Inc. 20+ years of CPG marketing and channel management expertise
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Very thorough. What I would like to suggest as an add on that this process is an annual objective and is cascaded down into the specific annual goals by department and team member (that are involved with said product). That way the process becomes part of culture and team/company ownership, not just 2 or 3 individuals.

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How do you communicate and document your product risk assessment findings and recommendations?

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1 Define your scope and criteria

2 Use a consistent and transparent method

3 Highlight the key findings and recommendations

4 Tailor your communication and documentation to your audience

5 Review and update your product risk assessment regularly

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