Assessing Assumptions, Risk, and Issues

Assessing assumptions, risks, and issues is a critical part of product management. It involves identifying and evaluating the assumptions made during the product development process, understanding the potential risks associated with these assumptions, and addressing any issues that arise. This process helps to mitigate risks, validate assumptions, and resolve issues in a timely manner, thereby ensuring the successful delivery of the product. It's important for Product Managers to continuously monitor and reassess assumptions, risks, and issues throughout the product lifecycle, as these can change over time based on new information or changes in the business environment.

Example

Let's continue with the scooter rental company. After the release of a new feature that allows users to reserve scooters in advance, the Product Manager starts to assess the assumptions, risks, and issues associated with this feature.

One of the key assumptions made during the development of this feature was that users would find the ability to reserve scooters in advance valuable and would be willing to pay a small fee for this service. To validate this assumption, the Product Manager monitors user behavior and feedback after the feature release. They find that while some users appreciate the convenience of reserving scooters, many are reluctant to pay the additional fee. This feedback prompts the Product Manager to reassess the pricing model for the reservation feature.

In terms of risks, the Product Manager had identified that the reservation feature could potentially lead to an increase in complaints from users who are unable to find available scooters due to reservations. To mitigate this risk, the Product Manager had proposed a limit on the number of reservations a user can make in a day. After the feature release, the Product Manager monitors user complaints and finds that there has been a slight increase in complaints related to scooter availability. They work with the engineering team to implement the proposed limit on reservations and continue to monitor user feedback.

As for issues, the Product Manager had anticipated potential technical issues with the reservation feature, such as users being unable to cancel their reservations or the app not showing the correct status of reserved scooters. After the feature release, the Product Manager works closely with the customer support team to track and address any issues reported by users. They also coordinate with the engineering team to resolve these issues and improve the functionality of the reservation feature.

Pain Points

Assessing assumptions, risks, and issues can be challenging as it requires a thorough understanding of the product, the user needs, and the business context. It also requires effective communication and collaboration with various teams, including engineering, customer support, and marketing. Furthermore, it can be difficult to predict and mitigate all potential risks and issues, especially in a fast-paced and dynamic business environment.

Practical Exercise

Imagine you worked at Bird and you’re launching the advanced reservation feature. What were the key assumptions made during the development process? How were these assumptions validated? What were the potential risks associated with these assumptions and how were they mitigated? Were there any issues that arose after the product or feature release? How were these issues addressed? Research and make assumptions where you don’t have enough information.

Related Research Topics

• Risk management in product development [ Google | Perplexity ]

• Assumption validation techniques [ Google | Perplexity ]

• Issue tracking and resolution in product management [ Google | Perplexity ]