Browse Definitions :
Definition

minimum viable product (MVP)

Contributor(s): Matthew Haughn

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)

Join the conversation

1 comment

Send me notifications when other members comment.

Please create a username to comment.

How much of your company's resources go into things that don't work out?
Cancel

-ADS BY GOOGLE

File Extensions and File Formats

SearchCompliance

  • California Consumer Privacy Act (CCPA)

    The California Consumer Privacy Act (CCPA) is legislation in the state of California that supports an individual's right to ...

  • compliance audit

    A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines.

  • regulatory compliance

    Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business...

SearchSecurity

  • privilege creep

    Privilege creep is the gradual accumulation of access rights beyond what an individual needs to do his job. In IT, a privilege is...

  • BlueKeep (CVE-2019-0708)

    BlueKeep (CVE-2019-0708) is a vulnerability in the Remote Desktop (RDP) protocol that affects Windows 7, Windows XP, Server 2003 ...

  • endpoint detection and response (EDR)

    Endpoint detection and response (EDR) is a category of tools and technology used for protecting computer hardware devices–called ...

SearchHealthIT

SearchDisasterRecovery

  • disaster recovery team

    A disaster recovery team is a group of individuals focused on planning, implementing, maintaining, auditing and testing an ...

  • cloud insurance

    Cloud insurance is any type of financial or data protection obtained by a cloud service provider. 

  • business continuity software

    Business continuity software is an application or suite designed to make business continuity planning/business continuity ...

SearchStorage

  • Hadoop as a service (HaaS)

    Hadoop as a service (HaaS), also known as Hadoop in the cloud, is a big data analytics framework that stores and analyzes data in...

  • blockchain storage

    Blockchain storage is a way of saving data in a decentralized network which utilizes the unused hard disk space of users across ...

  • disk mirroring (RAID 1)

    RAID 1 is one of the most common RAID levels and the most reliable. Data is written to two places simultaneously, so if one disk ...

Close