Key Lessons From Handling Project Risks

It’s easy as a PM to only focus on the upside. But you'll notice: more experienced PMs actually spend more time on the downside. The reason is simple: the more time you’ve spent in Product Management, the more times you’ve been burned. The team releases “the” feature that was supposed to change everything for the product - and everything remains the same. When you reach this stage, product management becomes less about figuring out what new feature could deliver great value, and more about de-risking the choices you have made to deliver the needed impact. -- To do this systematically, I recommend considering Marty Cagan's classical 4 Risks. 𝟭. 𝗩𝗮𝗹𝘂𝗲 𝗥𝗶𝘀𝗸: 𝗧𝗵𝗲 𝗦𝗼𝘂𝗹 𝗼𝗳 𝘁𝗵𝗲 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 Remember Juicero? They built a $400 Wi-Fi-enabled juicer, only to discover that their value proposition wasn’t compelling. Customers could just as easily squeeze the juice packs with their hands. A hard lesson in value risk. Value Risk asks whether customers care enough to open their wallets or devote their time. It’s the soul of your product. If you can’t be match how much they value their money or time, you’re toast. 𝟮. 𝗨𝘀𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗥𝗶𝘀𝗸: 𝗧𝗵𝗲 𝗨𝘀𝗲𝗿’𝘀 𝗟𝗲𝗻𝘀 Usability Risk isn't about if customers find value; it's about whether they can even get to that value. Can they navigate your product without wanting to throw their device out the window? Google Glass failed not because of value but usability. People didn’t want to wear something perceived as geeky, or that invaded privacy. Google Glass was a usability nightmare that never got its day in the sun. 𝟯. 𝗙𝗲𝗮𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗥𝗶𝘀𝗸: 𝗧𝗵𝗲 𝗔𝗿𝘁 𝗼𝗳 𝘁𝗵𝗲 𝗣𝗼𝘀𝘀𝗶𝗯𝗹𝗲 Feasibility Risk takes a different angle. It's not about the market or the user; it's about you. Can you and your team actually build what you’ve dreamed up? Theranos promised the moon but couldn't deliver. It claimed its technology could run extensive tests with a single drop of blood. The reality? It was scientifically impossible with their tech. They ignored feasibility risk and paid the price. 𝟰. 𝗩𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗥𝗶𝘀𝗸: 𝗧𝗵𝗲 𝗠𝘂𝗹𝘁𝗶-𝗗𝗶𝗺𝗲𝗻𝘀𝗶𝗼𝗻𝗮𝗹 𝗖𝗵𝗲𝘀𝘀 𝗚𝗮𝗺𝗲 (Business) Viability Risk is the "grandmaster" of risks. It asks: Does this product make sense within the broader context of your business? Take Kodak for example. They actually invented the digital camera but failed to adapt their business model to this disruptive technology. They held back due to fear it would cannibalize their film business. -- This systematic approach is the best way I have found to help de-risk big launches. How do you like to de-risk?

Taking risks doesn’t make you brave—it just means you’re reckless if you’re not prepared. When you’re creating a project or a business, you’ve probably thought about the risks. And if you haven’t, you should. People love to say, “Take the leap! No risk, no reward!” And sure, that’s true. Without risks, there’s no progress, no learning, no growth. But taking risks without being prepared isn’t bravery—it’s stupidity. It’s like jumping into a pool without checking if there’s water. And if you’re not careful, you’re going to hit the ground hard. That’s where the pre-mortem analysis comes in. It’s not about avoiding risks—it’s about understanding them. It’s about imagining your project has failed and working backward to figure out why. Because if you can predict how you might fail, you can prevent it from happening. Here’s how it works: 1️⃣ Imagine the project has failed. Gather your team and ask: “What went wrong?” Map out every possible reason. 2️⃣ Identify the risks. Categorize them: internal (team, resources) vs. external (market, competition). 3️⃣ Create a prevention plan. For each risk, outline actionable steps to mitigate it. The benefits? Uncovers hidden risks before they become problems. Encourages open, honest communication within teams. Builds a culture of proactive problem-solving. I always take this step when building out long-term plans for our teams because I remember the feeling of being terrified of failure and not comprehending what that looks like. It was my first ever “startup” in high school and I couldn’t shake the feeling that we were gonna crash and burn, but I just didn’t know how to describe it. Then my mentor put me on to the pre-mortem analysis. When I started describing what failure looked like, it became a lot less frightening and I built out plans to steer clear from failure. Again, taking risks is necessary, just make sure you’re not going into them blindly. Plan for failure to ensure success. Because the best way to win is to know how you might lose. #entrepreneurship #leadership #founders #problemsolving #growthmindset #startups #strategy

"Our game failed. What went wrong?" That’s the question at the heart of a premortem—a proactive ritual I’ve used at studios of all sizes. Unlike postmortems, which reflect on what happened after failure, premortems invite your team to imagine that failure has already happened—and work backward to uncover what caused it. It's not about pessimism—it's about creativity, foresight, and psychological safety. This structured, collaborative exercise helps surface the uncomfortable concerns people might otherwise keep to themselves out of fear of “rocking the boat.” And the earlier those issues are addressed, the easier they are to solve and avoid. Here's how a premortem works: 1. Set the Stage Frame the session as imaginative roleplay. The project has failed. Now, as a group, you’re investigating why. This reframing helps reduce defensiveness and encourage open contribution. 2. Individual Reflection Everyone silently writes down at least five reasons the project might fail. Pushing beyond the obvious helps uncover deeper or more surprising risks. 3. Share & Celebrate Each person shares their risks one by one. Every contribution should be met with praise and curiosity. Once the first wave is done, encourage more ideas—playfully, if needed. This isn’t about being “right”—it’s about being thoughtful and thorough. 4. Mitigation Planning Discuss each risk: Can it be prevented? Mitigated? Detected early? What actions can we take now? Document any clear follow-ups or process adjustments. 5. Close on a Positive Note Premortems can be emotionally heavy—so end with appreciation, humor, and a reminder of your shared goals. This turns what could be an anxiety-inducing conversation into a confidence-building team ritual. I’ve also included in the full guide: - Ideal timing for premortems during a project - Common risk categories to prompt deeper thinking - Tips for first-time facilitators - A worksheet layout for turning discussion into action If you're leading a team or shipping something ambitious, I hope this helps you build resilience and alignment—not just reaction. The full guide is now live on Game Dev Foundry, alongside other free tools for indie developers and studio leaders. #gamedev #leadership #projectmanagement #riskmanagement #indiedev #gamedesign