Electronics perspective of Verification and Validation

[crazy horse]

Want to know for job interview purposes.

A lot of the info on V&V seems to be more focused on software and closest stuff for electronics is FPGA and ASIC stuff.
I see the definitions of:
Are we building the product right = verification
Are we building the right product = validation

I have worked as electronics design engineer for 15 years, but it hasn't specifically been labelled this. The testing of the new designs is typically broken down to unit level testing and system testing.

Say for example with an ADSL modem the unit level testing would involve lower level testing. Testing power supplies, testing filter performance, testing signal integrity, testing component temperatures, testing it meets required specifications like EMC, ITU specs etc. It then touches into a bit more system testing, but with a focus on the performance of the unit under test. This would be all under Verification.

Then as a separate process the product would move onto system testing where it is tested that it functions in a system as expected. This seems like a bit of both Verification and Validation.

Once it passes all this it would move onto customer acceptance testing. This is what I take to mean validation testing.

Is this a fair understanding of V&V from an electronics design point of view?