A minimum viable product (MVP) is a version of a product that has enough features to satisfy early customers and provide feedback for future development12. An MVP is a common strategy in agile project management, where the project team delivers working functionality in short iterations or sprints, and continuously improves the product based on customer feedback and changing requirements34.
Identifying the minimum functionality required for the product can help the project manager meet the management’s expectation of delivering a product prototype that can be presented to potential customers in the first iteration. By focusing on the core features that provide the most value to the customers, the project manager can reduce the scope, cost, and time of the project, and increase the quality and satisfaction of the product5 .
Identifying the minimum functionality required for the product also involves collaborating with the project sponsor, the marketing team, and the customers to understand their needs, preferences, and expectations. The project manager should use various techniques, such as interviews, surveys, focus groups, prototyping, and testing, to gather and validate the requirements and feedback of the stakeholders .
Identifying the minimum functionality required for the product is not the same as splitting the backlog into phases, increasing the details of the WBS, or asking the sponsor to prioritize some functionalities. These are all possible actions that the project manager can take after identifying the MVP, but they are not the first step in ensuring that the deliverable of the first iteration helps the marketing team present the product prototype to potential customers.
1: What is a Minimum Viable Product (MVP)? 2: Minimum Viable Product (MVP) and Design - Balancing Risk to Gain Reward 3: Agile Project Management - Project Management Institute 4: What is Agile Project Management? | APM 5: The Benefits of Building a Minimum Viable Product (MVP) : [How to Build a Minimum Viable Product (MVP): A Step-by-Step Guide] : [Project Requirements Management - A Guide to Best Practices] : [How to Collect Customer Feedback for Your MVP]
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