<ul data-eligibleForWebStory="true">Product management is likened to being a firefighter building houses, needing to switch gears when crises occur.Common crises include major bugs, security breaches, and PR/social media issues, each requiring specific responses.A three-hour rule in crisis mode involves issue triage, internal alignment, and external communication.Identifying a real crisis involves assessing impact, source reliability, pattern recognition, and setting criteria with leadership.Having predefined crisis levels, assembling a response team, and creating an escalation path are crucial in crisis management.