Assumption / risks validation process
Research block. Session 4.
There are four main risks to consider when validating assumptions on a product during the development process:
- Value risk: This refers to the risk that the product will not provide value to the intended users. It is important to validate assumptions about what value the product will offer and how it will solve problems or meet needs for the target audience.
Process of validating:
Identify buying persona. In b2b it’s often different to a using persona
Interact with the buying persona as much as possible. Talk to 30 min and extract as much info as you can
- user testing
- use tools which gives you access to them: guidepoint etc.
2. Usability risk: This refers to the risk that the product will be difficult or confusing to use, resulting in a poor user experience. It is important to validate assumptions about the usability of the product, including factors such as navigation, layout, and overall user flow.
Process of validating: check whether the user understand how to access the value we’re proposing
Test the Prototype 1 -> Prototype 2 → which then turns to MVP (a value unit)
3. Feasibility risk: This refers to the risk that the product may be technically infeasible to build or maintain. It is important to validate assumptions about the feasibility of the product, including considerations such as the required resources and technical capabilities.
Process of validating: leave it. Technical limitations are to be addressed by the engineer. Also, support team gets involved to check capacity (needs to be trained on how to provide the help to clients)
ProTip: At this stage PM starts drafting: 1-pager
Think of a prototype
1. How do I imagine this working
2. Ask designer to creative mockups
Working with Engineers
Is this when to bring the engineer? No, always keep at least 1 engineer in the loop: Tech lead, engineering lead.
Why?
- motivation
- understand the priority
- provide ideas early on -> save you time..How to bring them on board?
- record the sessions with users
- get 1 min snippet
- share with the team: UX, engineer..
4. Business viability risk: This refers to the risk that the product may not be financially viable or have a sustainable business model. It is important to validate assumptions about the business viability of the product, including factors such as the potential market size, pricing, and profitability.
As a PM you do BV risk.
Process of validating: talk to subject matter experts / consultants (legal team)
Examle: is there a regulatory constraints, how would that affect the pricing of the product? if there is a storing of the personal info, you need to make sure it’s compliant
By considering these risks and validating assumptions related to them, product teams can ensure that they are building a product that meets the needs of the intended users and has a solid foundation for success.
What to do with risks:
1. Account and show you foresee it
2. Mitigate them -> plan ahead time or event
3. Add them to the 3 min presentation (share with the team, stakeholders). Create a slack channel and add everyone there
4. Then form a PRD
Credit: Daniel from GrowthMentor
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