What defines product risk?

Product risk specifically pertains to uncertainties or potential issues regarding the features, functions, and overall quality of a product being developed. It emphasizes the likelihood of a product not meeting the intended requirements, which can ultimately affect user satisfaction, market acceptance, and the product's overall success. This kind of risk generally focuses on the aspects of the product itself, such as whether it will perform as expected, whether it will have the necessary functionality, and if it will meet customer expectations.

In contrast, risks related to project timelines or staffing issues focus more on the processes and resources involved in delivering the product rather than the product characteristics themselves. Customer feedback can also inform product risk but is more of an outcome rather than a defining characteristic of product risk itself. Therefore, recognizing product risk as one tied to the features and functions of the product allows teams to address and manage these risks effectively throughout the development process.