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

Powered by:

SearchCompliance

  • 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...

  • Whistleblower Protection Act

    The Whistleblower Protection Act of 1989 is a law that protects federal government employees in the United States from ...

SearchSecurity

  • Transport Layer Security (TLS)

    Transport Layer Security (TLS) is a protocol that provides authentication, privacy, and data integrity between two communicating ...

  • van Eck phreaking

    Van Eck phreaking is a form of electronic eavesdropping that reverse engineers the electromagnetic fields (EM fields) produced by...

  • zero-trust model (zero trust network)

    The zero trust model is a security model used by IT professionals that requires strict identity and device verification ...

SearchHealthIT

SearchDisasterRecovery

  • 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 ...

  • business continuity policy

    Business continuity policy is the set of standards and guidelines an organization enforces to ensure resilience and proper risk ...

SearchStorage

  • solid-state storage

    Solid-state storage (SSS) is a type of computer storage media made from silicon microchips. SSS stores data electronically ...

  • persistent storage

    Persistent storage is any data storage device that retains data after power to that device is shut off. It is also sometimes ...

  • computational storage

    Computational storage is an information technology (IT) architecture in which data is processed at the storage device level to ...

Close