# Product Management Is, A...  ## Metadata - Author: [[@PawelHuryn on Twitter]] - Full Title: Product Management Is, A... - Category: #tweets - URL: https://twitter.com/PawelHuryn/status/1797853450610655622 ## Highlights - Product Management is, at its heart, about managing risk. But the risks at play are not obvious. The extended classification beyond the famous "Value, Usability, Viability, and Feasibility:" (1/9)  ([View Tweet](https://twitter.com/PawelHuryn/status/1797853450610655622)) - (2/9) Ethics: Should we do it at all? Ethics is sometimes considered part of the Viability risk. Teresa Torres presents it as a separate category.  ([View Tweet](https://twitter.com/PawelHuryn/status/1797853455102693881)) - (3/9) Go-to-market: Can we market it? Go-to-market risk is often considered part of Viability risk. But I like presenting it separately for new products. Many early experiments test how people will engage with our idea, not whether we can deliver the value promised.  ([View Tweet](https://twitter.com/PawelHuryn/status/1797853459141865716)) - (4/9) Strategic risk: What assumptions need to be true for our strategy to work? Strategic risk involves competition and external factors like politics and economics. It's not covered by the experiments performed for the individual features.  ([View Tweet](https://twitter.com/PawelHuryn/status/1797853463579447320)) - (5/9) Objectives risk: Are these the right problems to solve? Objective risks involve setting the right team objectives (e.g., OKRs). For critical initiatives, one tactic is assigning the same objective to multiple teams in the hope that at least one of them will succeed.  ([View Tweet](https://twitter.com/PawelHuryn/status/1797853467857621362)) - (6/9) Team risks: How well will the team work together? Many of those risks can be mitigated with the right leadership. Other risks involve the right teams' topologies.  ([View Tweet](https://twitter.com/PawelHuryn/status/1797853471967989919)) - (7/9) Remember that in product management, you can’t eliminate risks completely. The key to making decisions is being transparent and taking calculated risks informed (not driven!) by data, qualitative insights, and intuition. ([View Tweet](https://twitter.com/PawelHuryn/status/1797853475252109395)) - (8/9) The ultimate test is users interacting with your product in the real world, using their own data. What’s critical is to ensure that your teams feel safe to experiment and fail and that when they fail, they can learn from it: ([View Tweet](https://twitter.com/PawelHuryn/status/1797853477986795873)) - (9/9) “A good failure is when the value of the lesson is greater than the cost of the lesson. A bad failure is when the value of the lesson is much less than the cost of the lesson.” - Alberto Savoia, author of The Right It ([View Tweet](https://twitter.com/PawelHuryn/status/1797853480566337879)) - PS. Enjoy this? 🎁 Read more for free in my "How to Manage Risks as a Product Manager." No email, no paywall: https://t.co/5Aso6mAmI3 ([View Tweet](https://twitter.com/PawelHuryn/status/1797853686489862357))