I don’t think there are any risks involved in performing validation and verification, rather performing validation and verification reduces the overall risk of the project by ensuring quality and that the product meets all requirements and specification and fulfills its intended uses. Verification and validation are both very critical aspects of the quality side of the project and the only risks associated with verification and validation that I can think of are ensuring that the proper amount of verification and validation is performed and that there is enough time built into the schedule to perform all the necessary validation and verification needed to ensure quality of the product.