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.
96 topics found for:
“risk management”
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.
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.
Risk Compensation
The theory that people adjust their behavior in response to the perceived level of risk, often taking more risks when they feel more protected. Important for designing safety features and understanding behavior changes in response to risk perception.
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.
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.
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.
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.
Project Manager
A professional responsible for planning, executing, and closing projects, ensuring they are completed on time, within scope, and on budget. Crucial for managing project activities and ensuring successful delivery of project goals.
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.
TRiSM
Trust, Risk, and Security Management (TRiSM) is a framework for managing the trust, risk, and security of AI systems to ensure they are safe, reliable, and ethical. Essential for ensuring the responsible deployment and management of AI technologies.
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.
EPM
Enterprise Project Management (EPM) is a comprehensive approach to managing projects across an entire organization. Essential for coordinating complex, cross-functional projects and achieving organizational objectives.
Hofstadter’s Law
A principle that states tasks always take longer than expected, even when considering Hofstadter's Law itself. Important for setting realistic project timelines and managing expectations in digital product development.
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.
ALM
Application Lifecycle Management (ALM) is the process of managing an application's development, maintenance, and eventual retirement throughout its lifecycle. Important for ensuring the sustainability and effectiveness of digital products over time.
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.
Control Framework
A set of standards and guidelines used to ensure the integrity, security, and compliance of business processes and IT systems. Important for establishing robust governance and control mechanisms in digital product design and development.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Delivery Manager
A role responsible for ensuring that products and services are delivered efficiently, on time, and within budget. Crucial for managing project timelines, resources, and stakeholder expectations.
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.
Viability Risk
The risk that the product will not be financially or strategically sustainable for the business, potentially leading to a lack of support or profitability. Essential for ensuring that the product aligns with business goals and can be maintained and supported long-term.
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.
Usability Risk
The risk that users will find the product difficult or confusing to use, preventing them from effectively utilizing its features. Crucial for making sure the product is user-friendly and intuitive, enhancing the user experience and adoption.
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.
PMBOK
The Project Management Body of Knowledge (PMBOK) is a comprehensive set of guidelines, best practices, and standards for project management. Essential for ensuring consistency and excellence in managing projects across various industries.
PMO
A Project Management Office (PMO) is a centralized unit within an organization that oversees and standardizes project management practices. Essential for ensuring consistency, efficiency, and alignment with strategic goals across projects.
Feature Flag
A technique used in software development to enable or disable features in a production environment without deploying new code, allowing for controlled feature rollouts. Essential for managing feature releases and testing in live environments.
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.
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.
ModelOps
ModelOps (Model Operations) is a set of practices for deploying, monitoring, and maintaining machine learning models in production environments. Crucial for ensuring the reliability, scalability, and performance of AI systems throughout their lifecycle, bridging the gap between model development and operational implementation.
Pilot
A preliminary version of a project or system used to test and validate its feasibility before full-scale implementation. Crucial for identifying potential issues and making necessary adjustments to improve the final product.
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.
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.
SDLC
Software Development Life Cycle (SDLC) is a process for planning, creating, testing, and deploying an information system. Essential for managing the complexities of software development and ensuring project success.
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.
Monte Carlo Simulation
A statistical technique that uses random sampling and statistical modeling to estimate mathematical functions and simulate systems. Useful for risk assessment, decision-making, and performance optimization in digital product design.
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.
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.
PAR
Performance and Accountability Reporting (PAR) is a comprehensive document that outlines an organization's performance in achieving its goals and its accountability in managing resources. This report is essential for transparency, governance, and continuous improvement.
Customer Validation
The process of testing product ideas and assumptions with real customers to ensure they meet market needs. Essential for reducing risk and ensuring product-market fit.
Feasibility Study
An analysis that assesses the practicality and potential success of a proposed project or system. Crucial for determining the viability and planning of new initiatives.
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.
QFD
Quality Function Deployment (QFD) is a method used to transform customer needs into engineering characteristics for a product or service. Essential for ensuring that customer requirements are systematically incorporated into the design and development process.