The risks in a failure during the verification and validation is missing details that will later become a large issue for the engineer or other department that is running the project. Also, not thinking to test an aspect of the product during the V&V can lead to failures in the distribution part of the product life cycle. Failures after distribution can lead to recall which can lead to being under the microscope from the FDA. The time it takes to add a test, while a nuisance, is significantly faster than handling the project later into the products life cycle. I think the risk in the V&V is failing to notice and prepare for a future risk.