How can you manage product launch risks in a waterfall environment?

1 Define clear and realistic scope

One of the most common risks in a waterfall product launch is scope creep, which occurs when the project scope expands beyond the original plan, resulting in delays, budget overruns, and quality issues. To avoid this, you need to define the scope of the product launch clearly and realistically, based on the customer needs, market research, and stakeholder expectations. You also need to document the scope and get approval from all the parties involved, and communicate any changes or deviations as soon as possible. By setting and managing the scope effectively, you can align the product vision, goals, and deliverables, and avoid unnecessary rework and confusion.

3 Manage dependencies and resources

A third risk in a waterfall product launch is encountering delays or bottlenecks due to dependencies and resource constraints. Dependencies are the tasks or activities that rely on each other or on external factors, such as vendors, suppliers, or partners. Resource constraints are the limitations or shortages of the resources needed to complete the project, such as human, financial, or technical resources. To mitigate this risk, you need to manage the dependencies and resources effectively, by identifying and mapping them out, assigning roles and responsibilities, allocating and tracking the resources, and resolving any issues or conflicts that arise.

4 Monitor and control the progress

A fourth risk in a waterfall product launch is losing track or control of the progress of the project, which can lead to missed deadlines, budget overruns, or scope creep. To avoid this, you need to monitor and control the progress of the project regularly, by measuring and reporting the performance, status, and outcomes of the project activities. You need to use appropriate tools and methods, such as Gantt charts, milestones, dashboards, or reports, to track and visualize the progress. You also need to compare the actual progress with the planned progress, and identify and address any gaps or deviations. By monitoring and controlling the progress, you can ensure that the project is on track, on budget, and on scope, and make informed decisions and adjustments as needed.

5 Engage and communicate with stakeholders

A fifth risk in a waterfall product launch is losing the engagement or communication with the stakeholders, such as customers, users, sponsors, or team members. This can result in misalignment, dissatisfaction, or conflict, and affect the product quality and success. To prevent this, you need to engage and communicate with the stakeholders frequently and effectively, by establishing and maintaining rapport, trust, and feedback. You need to understand and manage the expectations and needs of the stakeholders, and involve them in the product launch process, such as by soliciting their input, feedback, or approval. You also need to communicate the product vision, goals, scope, progress, and results clearly and consistently, and use appropriate channels and formats, such as meetings, emails, or presentations.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?