Minimum Viable Product
The Minimum Viable Product (MVP) is a concept that comes from the Lean startup context, where the goal is to deliver a product with the smallest set of features that deliver value to the customer early. In the Scrum framework, this could be the smallest set of Product Backlog items that delivers value to the customers. This enables the Scrum Team to receive early and frequent customer feedback and to adapt the subsequent product backlog items based on this feedback.
Guide on Minimum Viable Product (MVP)
The Minimum Viable Product (MVP) is a software development strategy wherein a new product is developed with enough features to satisfy early adopters. The final set of features, only designed and developed after receiving feedback from the product's initial users.
Importance of MVP:
The MVP approach is important because it allows companies to quickly launch a product to market with minimal resources. This agile development approach allows for quick feedback and iteration, essential elements to improve the product based on users' actual needs and not on assumptions.
Working of MVP:
The process begins with identifying the core problem that needs solving and then developing the minimum solution for it. This pared-down product is then released to a small group of people to collect feedback and make improvements.
Exam Tips: Answering Questions on MVP
Understand the concept and its importance thoroughly. Be clear about the different phases like MVP identification, building, learning, and iterating process. Use real-world examples to illustrate your understanding wherever possible. Make sure your answers are concise and to the point. Always link back the purpose of MVP to customer satisfaction and business value.
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