The Agile Embedded Podcast
The Agile Approach to Risk Management
Nov 2, 2022
Exploring the Agile approach to risk management and addressing technical, product, and process risks. Discusses different types of risk in Agile development and the importance of building feedback loops. Also explores the risks associated with the worldwide chip shortage and strategies for mitigating them. Emphasizes the need for quick development, shippable products, and customer feedback to reduce risk. Highlights the value and limitations of connected devices in the medical field and the importance of managing technical risks for successful outcomes.
37:30
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Quick takeaways
- Agile tackles project risks by building feedback loops, iterating in short cycles, and seeking customer feedback.
- Adopting agile practices in embedded systems helps manage technical risk and address product risk while remaining open to supply chain challenges.
Deep dives
Agile's Approach to Risk Management
Agile is viewed as an expression of risk management, aiming to control project risks and ensure the development of the right product. Risk is categorized into three types: technical risk, product risk, and process or execution risk. Technical risk pertains to the feasibility of building the envisioned product, while product risk focuses on creating value and attracting customers. Process or execution risk involves the challenge of effectively working together and delivering a product that delights customers. Agile tackles these risks by building feedback loops, iterating in short cycles, and seeking customer feedback to manage uncertainties and progressively deliver value.
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