What is the best way to develop contingency plans for high-risk items in your product roadmap?

1 Identify high-risk items

The first step is to identify which items in your product roadmap are high-risk, and why. You can use various methods to assess the risk level of each item, such as the RICE score, the impact/effort matrix, or the risk register. The key is to consider both the probability and the impact of each risk, and prioritize the ones that have the highest potential to derail your product goals. You should also document the assumptions, dependencies, and unknowns that underlie each high-risk item, and validate them as soon as possible.

2 Define contingency scenarios

The next step is to define the possible scenarios that could occur if a high-risk item fails or changes. You should think of the best-case, worst-case, and most likely case scenarios, and how they would affect your product vision, scope, timeline, budget, and quality. You should also identify the triggers or indicators that would signal that a scenario is happening, and the actions or responses that you would take to mitigate or adapt to it.

3 Develop contingency plans

The third step is to develop contingency plans for each contingency scenario. A contingency plan is a set of alternative actions or solutions that you can implement if a high-risk item does not go as planned. You should include the following elements in your contingency plans: the objectives, the resources, the costs, the benefits, the risks, the assumptions, and the criteria for success. You should also assign roles and responsibilities for each contingency plan, and communicate them clearly to your team and stakeholders.

4 Test contingency plans

The fourth step is to test your contingency plans before you need them. You should simulate or prototype the contingency scenarios and the contingency plans, and evaluate their feasibility, effectiveness, and impact. You should also solicit feedback from your team, stakeholders, and users, and refine your contingency plans accordingly. You should also update your contingency plans as your product roadmap evolves, and as new risks emerge or old ones are resolved.

5 Execute contingency plans

The fifth step is to execute your contingency plans when a high-risk item fails or changes. You should monitor the triggers or indicators of the contingency scenarios, and act swiftly and decisively when they occur. You should also communicate the changes and the reasons behind them to your team, stakeholders, and users, and manage their expectations and emotions. You should also measure the outcomes and the lessons learned from your contingency plans, and use them to improve your product roadmap and your risk management process.

6 Review contingency plans

The sixth and final step is to review your contingency plans periodically and systematically. You should evaluate the performance and the value of your contingency plans, and identify the gaps, strengths, and weaknesses. You should also collect and analyze the data and the feedback from your team, stakeholders, and users, and identify the best practices and the areas for improvement. You should also celebrate the successes and the learnings from your contingency plans, and share them with your team, stakeholders, and users.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?