Browse Definitions :
Definition

minimum viable product (MVP)

Minimum viable product (MVP) is a concept for making a product that fills the perceived needs of a customer or solves a problem adequately enough to expect a sustainable business around it. An MVP attempts to strike the right balance in a product so that it meets expectations without expending effort on things customers don't care about.

The process for building an MVP is centered around understanding the customers and their needs. From that understanding, the company has to ensure it has the processes in place to build the product to the consumer’s perception of quality. This perception includes factors such as features, ergonomics, design, aesthetics and reliability. Once the customer and market are thought to be understood, an MVP can be developed and released as part of the build measure and learn (BML) process. Finally, validated learning from metrics and feedback can be used to improve on designs, ensuring effort is not wasted.

The purpose of an MVP is striking a balance between a release early release often approach and, on the other hand, putting too much effort into one product to maximize its chances. MVPs can be a more rational approach in situations where time to market is not critical and customer data and interaction are available.

MVP, BML and validated learning are all concepts used in “The Lean Startup” method as created by the entrepreneur and co-founder of IMVU, Eric Ries. The lean startup approach endeavors to create a process similar to scientific methods to regiment success in startup companies.

This was last updated in February 2017

Continue Reading About minimum viable product (MVP)

SearchCompliance
  • ISO 31000 Risk Management

    The ISO 31000 Risk Management framework is an international standard that provides businesses with guidelines and principles for ...

  • pure risk

    Pure risk refers to risks that are beyond human control and result in a loss or no loss with no possibility of financial gain.

  • risk reporting

    Risk reporting is a method of identifying risks tied to or potentially impacting an organization's business processes.

SearchSecurity
  • Twofish

    Twofish is a symmetric-key block cipher with a block size of 128 bits and variable-length key of size 128, 192 or 256 bits.

  • walled garden

    On the internet, a walled garden is an environment that controls the user's access to network-based content and services.

  • potentially unwanted program (PUP)

    A potentially unwanted program (PUP) is a program that may be unwanted, despite the possibility that users consented to download ...

SearchHealthIT
SearchDisasterRecovery
  • What is risk mitigation?

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • fault-tolerant

    Fault-tolerant technology is a capability of a computer system, electronic system or network to deliver uninterrupted service, ...

  • synchronous replication

    Synchronous replication is the process of copying data over a storage area network, local area network or wide area network so ...

SearchStorage
  • Remote Direct Memory Access (RDMA)

    Remote Direct Memory Access (RDMA) is a technology that enables two networked computers to exchange data in main memory without ...

  • storage (computer storage)

    Data storage is the collective methods and technologies that capture and retain digital information on electromagnetic, optical ...

  • storage medium (storage media)

    In computers, a storage medium is a physical device that receives and retains electronic data for applications and users and ...

Close