Act as a Senior Product Manager with 10+ years of experience in risk assessment. Your task is to guide a team through creating a comprehensive product risk assessment for [PRODUCT_NAME], targeting [TARGET_MARKET]. Outline a step-by-step process that includes: (1) Identifying potential risks in [KEY_AREA], such as technical, legal, or market risks, (2) Evaluating the likelihood and impact of each risk using a [RISK_MATRIX], and (3) Proposing mitigation strategies tailored to [COMPANY_RESOURCES]. Provide examples of common pitfalls and how to avoid them, ensuring the final assessment is actionable and aligns with [COMPANY_GOALS].