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MVP in project management

What is MVP in project management? In Project management, MVP is an acronym derived from the term Minimum Viable Product. If you’ve never used or come across such an idea, don’t worry because by the time you’ve finished reading this article, you will have gained a clear insight of what the concept is about. To start with, the concept is usually used to improve planning in agile project management. Similar to agile software development model which emphasizes collaborative development and responsiveness to customer feedback, agile project management offers a way for managing the almost constant changes we experience in today’s organizations.

And what is this MVP?

As already mentioned, MVP is the Minimum Viable Product. In more clear terms, it’s the simplest prototype which could be put into use. The goal of MVP is to put the simplest version of the product into the hands of the users so as to be convinced that you’re on the right track and then to identify things of highest-priority to be implemented in the next cycle. Being the “first draft” of the solution being offered, it has to meet the threshold of a successful iteration. Please be informed that a sketch or a wireframe is not an iteration because an iteration has to do real work, be able to be evaluated, and actually be evaluated. Evaluation is performed on the prototype when the customer uses it and provide feedback which is gathered, studied and most certainly used in the enhancement of the next iteration. To put it correctly, MVP is a strategy or a tool for conducting iterative learning about the customers associated with the product.

Things You Should Consider When Building Your MVP

To avoid the failure of an MVP, you need to be aware of a number of things which include the following:
  • While selecting the features to be implemented in the MVP, you must consider as a priority the features that will deliver the best value to initial customers as this will provide the best learning experience.
  • You have to build the MVP in the right way and not the wrong way. From the most minimum set of important features, the MVP should offer users the most complete experience possible.
  • You have to adopt the agile software –development methodology in building your MVP because its success rate in the industry as compared to other traditional methods is very high.
  • Don’t overlook testing as a time wasting activity as most clients do especially in the development of an MVP. However little the time might be, you must test your application whether it’s an MVP or subsequent iteration as its quality will depend on its ability to pass tests.
  • Finally, hourly rate is preferred for project team members as opposed to fixed pay as it offers a number of advantages which include a better developer-client relationship, faster development speed and ability to change direction.

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