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.