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INTERVIEW QUESTION:

What is a Minimum Viable Product?

Posted by Chris Adams

// 10358 Views // 1 Additional Answers & Comments

Categories: Business Analysis, Systems Analysis, Agile Methods, General, SDLC, Process, and Methodologies, Project Management

ANSWER

A Minimum Viable Product (MVP) refers to a product that has just enough features to reasonably demonstrate its viability and value to a group of stakeholders in order to receive feedback. By greatly limiting the scope of the product to its absolute minimum feature set the product development team is able to limits costs and risks.

When deciding what features should make up the minimum viable product, teams should focus on the primary use case of the product and which features are absolutely necessary to fulfill the use case. At times it can be helpful to use the 80-20 rule to help identify the most important features, especially when there isn't one single primary use case but several. For most products, 20 percent of the features will handle 80 percent of the use case goals.

The completed minimum viable product allows stakeholders to verify that the features built meet the use case(s) as expected. If the MVP misses the mark and is deemed a failure very little money and time has been spent. However, this is a fairly uncommon outcome unless the product was built to test an unknown market. More often than not, the MVP is suitable and only minor adjustments need to be made to bring the MVP inline with stakeholder needs. Finally, the completed MVP can be used as a baseline for discussion about the next set of features to be added.

Some of the benefits of minimum viable products are that they:

Minimize the initial planning time required to start a project
Minimize the initial development effort
Make excellent proof-of-concepts
Accelerate requirement learning and discovery
Provide a tangible, working product for stakeholders to experience and evaluate
Support early and rapid feedback cycles with stakeholders
Deliver a usable product to customers as early as possible
Facilitate the develop of a more complete product vision

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Chris Adams
LinkedIn Profile

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ADDITIONAL ANSWERS / COMMENTS

Groovy Web posted on Monday, June 27, 2022 7:06 AM

A minimum viable product is a version of a product with just enough features. The concept can be used to validate a market need for a product, it is especially useful for new/startup companies who are more concerned with finding out where potential business opportunities A key premise behind the idea of MVP is that you produce an actual product. MVP development services allow to release the final product is released in the market only after getting sufficient feedback from the product's initial users.

Groovy Web can help with MVP Development Company, to create user-friendly, dependable, high-performance, and scalable applications.

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