Risk Taxonomy
A structured classification of risks into categories, helping organizations identify, assess, and manage different types of risks. Important for understanding and managing risks effectively within an organization.
58 topics found for:
“risk management strategy”
Zero-Risk Bias
A cognitive bias where people prefer the option that seems to eliminate risk entirely, even if another option offers a greater overall benefit. Important for understanding decision-making and designing risk communication for users.
Project Management
The abilities and knowledge required to effectively plan, execute, and close projects, including leadership, communication, time management, and risk management. Essential for ensuring successful project outcomes and achieving business objectives.
Operational Risk
The risk of loss resulting from inadequate or failed internal processes, people, and systems. Important for identifying and mitigating potential operational threats.
Feasibility Risk
The risk that the product cannot be built as envisioned due to technical limitations, resource constraints, or other practical challenges. Important for confirming that the product can be realistically developed and deployed with the available technology and resources.
Stakeholder Management
The systematic identification, analysis, planning, and implementation of actions designed to engage and influence stakeholders in a project. Crucial for maintaining positive relationships and ensuring stakeholder support throughout the project lifecycle.
Swiss Cheese Model
A risk management model that illustrates how multiple layers of defense (like slices of Swiss cheese) can prevent failures, despite each layer having its own weaknesses. Crucial for understanding and mitigating risks in complex systems.
Negative Float
A scheduling term that indicates a delay in the project timeline that cannot be recovered. Important for identifying and addressing potential project delays, ensuring timely delivery of digital products.
Peltzman Effect
The hypothesis that safety measures may lead to behavioral changes that offset the benefits of the measures, potentially leading to risk compensation. Crucial for understanding risk behavior and designing systems that account for compensatory behaviors.
Myopic Loss Aversion
A cognitive bias where individuals tend to avoid risks when they perceive potential losses more acutely than potential gains. Important for understanding decision-making behavior in users and designing systems that mitigate risk aversion.
Crisis-Response Design
Designing systems and processes to effectively respond to and manage crises, ensuring resilience and quick recovery. Crucial for preparing for unexpected events and minimizing their impact.
STEEPLE Framework
Social, Technological, Economic, Environmental, Political, Legal, and Ethical (STEEPLE) is an analysis tool that examines the factors influencing an organization. Crucial for comprehensive strategic planning and risk management in product design.
Scope Creep
Also known as feature creep, the continuous addition of new features to a product, often beyond the original scope, leading to project delays and resource strain. Important for managing project scope and ensuring timely delivery.
Red Teaming
A strategy where a team plays the role of an adversary to identify vulnerabilities and improve the security and robustness of a system. Crucial for testing the resilience of digital products and identifying areas for improvement.
Future-Proofing
The process of anticipating future developments to ensure that a product or system remains relevant and functional over time. Essential for designing durable and adaptable products.
Dependency Management
The process of identifying, assessing, and controlling dependencies between tasks or projects to minimize risks and ensure smooth project execution. Crucial for effective project management and delivery.
Program Management
The process of managing multiple related projects in a coordinated way to achieve strategic business objectives. Crucial for ensuring alignment and efficiency across multiple projects to achieve broader goals.
Portfolio Management
Portfolio Management is the process of overseeing and coordinating an organization's collection of products to achieve strategic objectives. Crucial for balancing resources, maximizing ROI, and aligning products with business goals.
Product Launch Management
The comprehensive process of planning, executing, and overseeing all activities related to the introduction of a new product to the market. Crucial for coordinating efforts to ensure a successful product launch and achieving market impact.
Risk Management
The process of identifying, assessing, and mitigating potential threats that could impact the success of a digital product, including usability issues, technical failures, and user data security. Essential for maintaining product reliability, user satisfaction, and data protection, while minimizing the impact of potential design and development challenges.
Planning Fallacy
A cognitive bias where individuals underestimate the time, costs, and risks of future actions while overestimating the benefits. Important for realistic project planning and setting achievable goals for designers.
Escalation of Commitment
A cognitive bias where individuals or organizations continue to invest in a failing project or decision due to the amount of resources already committed. Important for designers to recognize and mitigate their own risks of continuing unsuccessful initiatives.
Normalcy Bias
The tendency to believe that things will always function the way they normally have, often leading to underestimation of disaster risks. Important for understanding risk perception and designing systems that effectively communicate potential changes.
Scaling Fallacy
A cognitive bias where people underestimate the complexity and challenges involved in scaling systems, processes, or businesses. Important for understanding the difficulties of scaling and designing systems that address these challenges.
Canary Testing
A deployment strategy where a new version is released to a small subset of users to detect any issues before a full rollout. Crucial for minimizing risk and ensuring the stability of digital products during updates and deployments.
Prospect Theory
A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known. Crucial for understanding decision-making under risk and designing systems that align with user behavior.
Placing Bets
A strategic approach where multiple potential solutions are tested to identify the most promising one. Crucial for innovation and reducing risk in decision-making.
Spike
A short, time-boxed period used in Agile development to research a concept or explore a new technology. Important for reducing uncertainty and risk in development.
Business Continuity
The planning and preparation to ensure that an organization can continue to operate in case of serious incidents or disasters. Crucial for minimizing disruptions and maintaining critical functions during and after unexpected events.
Moral Luck
A phenomenon where the success or failure of a design or business outcome is influenced by external factors beyond the control of the decision-makers, akin to serendipity. Important for recognizing and accounting for external influences in performance evaluations to ensure fair assessments and informed decisions.
Enterprise Architecture
Enterprise Architecture (EA) is a strategic framework used to align an organization's business strategy with its IT infrastructure. Crucial for optimizing processes, improving agility, and ensuring that technology supports business goals.
Pro-Innovation Bias
The tendency to overvalue new innovations and technologies while undervaluing existing or traditional approaches. Important for balanced decision-making and avoiding unnecessary risks in adopting new technologies.
SWOT Analysis
Strengths, Weaknesses, Opportunities, and Threats (SWOT) is a strategic planning tool that is applied to a business or project. Essential for strategic planning and decision-making.
Loss Aversion
A cognitive bias where the pain of losing is psychologically more powerful than the pleasure of gaining. Important for designing user experiences that account for and mitigate loss aversion.
Ostrich Effect
A cognitive bias where people avoid negative information or situations, preferring to remain uninformed or ignore problems. Important for understanding user behavior and designing systems that encourage proactive engagement.
Irrational Escalation
The phenomenon where people continue a failing course of action due to the amount of resources already invested. Important for recognizing and mitigating biased decision-making.
Release Management
The process of overseeing and coordinating the development, testing, and deployment of software releases to ensure they are delivered efficiently and effectively. Essential for managing software development cycles and ensuring successful product releases.
House of Brands
A brand architecture strategy where multiple distinct brands are managed under a single parent company. Crucial for managing diverse product lines and maximizing market reach.
Probability Matching
A decision-making strategy where individuals allocate resources proportionally to the probability of an outcome occurring, rather than optimizing the most likely outcome. Important for understanding decision-making behaviors and designing systems that guide better resource allocation.
Optimism Bias
A cognitive bias that causes people to believe they are less likely to experience negative events and more likely to experience positive events than others. Crucial for understanding user risk perception and designing systems that account for unrealistic optimism.
NPD
New Product Development (NPD) is the complete process of bringing a new product to market, from idea generation to commercialization. Essential for companies to innovate, stay competitive, and meet evolving customer needs through a structured approach to creating and launching new offerings.
Pessimism Bias
A cognitive bias that causes people to overestimate the likelihood of negative outcomes. Important for understanding user risk perception and designing systems that address irrational pessimism.
OKR
Objectives and Key Results (OKR) is a goal-setting framework for defining and tracking objectives and their outcomes. Essential for aligning organizational goals, improving focus and engagement, and driving measurable results across teams and individuals.
PAC
Product Advisory Council (PAC) is a group of customers, industry experts, and stakeholders who provide feedback and guidance on a company's product strategy and development. Essential for aligning products with market needs and driving innovation.
Surrogation
The process by which a measure or metric comes to replace the underlying objective it is intended to represent, leading to distorted decision-making. Important for ensuring that metrics accurately reflect true objectives and designing systems that prevent metric manipulation.
Regressive Bias
A cognitive bias where individuals overestimate the likelihood of extreme events regressing to the mean. Crucial for understanding decision-making and judgment under uncertainty.
Rapid Experimentation
The practice of quickly testing and iterating on ideas to validate assumptions and learn from user feedback in a short time frame. Essential for agile development and making data-driven decisions efficiently.
UX
User Experience (UX) refers to the overall experience of a person using a product, system, or service, encompassing all aspects of the end-user's interaction. Crucial for creating products that are not only functional but also enjoyable, efficient, and satisfying to use.
Information Bias
A cognitive bias where people seek out more information than is needed to make a decision, often leading to analysis paralysis. Crucial for designing decision-making processes that avoid information overload for users.
SAFe
SAFe is a framework designed to scale agile practices across large organizations by integrating agile and lean principles. It is widely used but criticized for its rigidity, bureaucratic structure, and potential to stifle true agile culture.
CAB
Customer Advisory Board (CAB) is a group of key customers who provide feedback and insights to a company to help guide its strategic decisions. This group is crucial for aligning products and services with customer needs and expectations.
Higher Environment
An environment closer to production where final testing and validation occur. Crucial for ensuring that products are ready for production deployment.
ARA
Application Release Automation (ARA) is the process of automating the release of applications, ensuring consistency and reducing errors. Crucial for accelerating the delivery of software updates and maintaining high-quality digital products.
Startup Culture
The set of shared values, practices, and goals that characterize a startup company. Important for fostering innovation, agility, and a collaborative environment within product design teams.
MVP
Minimum Viable Product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. Essential for validating product ideas quickly and cost-effectively, allowing teams to learn about customer needs without fully developing the product.
Projection Bias
The tendency to overestimate how much our future preferences and behaviors will align with our current preferences and behaviors. Important for understanding user behavior and designing experiences that account for changes over time.
Customer Development
A framework for discovering and validating the right market for a product, building the right product features, and validating the business model. Important for ensuring that products meet market needs and customer expectations.
UCD
User-Centered Design (UCD) is an iterative design approach that focuses on understanding users' needs, preferences, and limitations throughout the design process. Crucial for creating products that are intuitive, efficient, and satisfying for the intended users.