One example of product risk would be failing of a software used in a product. As an engineer, I would verify and validate the software used in the product during the executing process. Once the software is validated, any component of it used in the product would not raise a doubt or risk later on in the project. Also, as a part of the team I would make sure to raise this concern during the meetings and make sure that the project manager as all as other team members are aware of the potential risk in the software used in this project. This again emphasis on the importance of review meetings where everyone should discuss any issues within the project and take the input of each team member seriously. This will make sure that the project is completed within the timeline and no extra cost is added.