What does a risk assessment typically involve in product management?

In product management, a risk assessment primarily involves evaluating potential regulatory issues and product hazards because this process is essential for ensuring that the product complies with all applicable laws and regulations, as well as identifying any safety concerns that might pose risks to users.

This assessment helps organizations understand the various risks associated with their products, which may include health and safety risks, legal implications due to non-compliance with regulations, and potential impacts on the company's reputation. By thoroughly evaluating these areas, product managers can create strategies to mitigate risks, enhance product safety, and ensure compliance, thereby safeguarding both consumers and the organization.

Other options focus on aspects that, while relevant to product management, do not directly address the risk assessment aspect. Analyzing financial projections pertains more to the economic feasibility of a product. Studying customer feedback is critical for understanding market needs and improving products but does not inherently relate to assessing risks. Reviewing marketing strategies involves planning how to promote the product effectively but does not involve identifying or evaluating risks associated with the product. Therefore, the emphasis on regulatory issues and product hazards aligns directly with the core purpose of a risk assessment in this context.