MVP (Minimum Viable Product)
Definition
Minimal version of a product containing only essential features to validate a market hypothesis. The MVP approach allows quick idea testing with limited investment.
Detailed explanation
An MVP is not a rushed product, it is a deliberately focused product. It tests a business hypothesis (are target users ready to pay for this problem?) before investing in the full version. A good MVP follows 3 rules: it solves a real problem in a usable way (not just a mockup), it attracts the target pilot users (not everyone), it provides measurable learning data (conversion, retention, usage). Typically delivered in 4-8 weeks for 15-40 kEUR.
Concrete example
SaaS MVP for appointment management: shared calendar, online booking, email notifications. Without: mobile app, multiple integrations, built-in invoicing, multi-language. Deployed in 6 weeks for 25 kEUR, these features arrive in v2 if the first 100 users validate the concept.
Related terms
Backlog
Ordered list of all features, fixes and improvements planned for a product. The backlog is prioritized and evolves throughout the project.
Project managementSprint
Short development cycle (usually 1 to 4 weeks) in an agile methodology. Each sprint has a specific goal and delivers a functional product...
Project documentsTechnical specification
Document detailing the technical architecture, technologies used, APIs, database and infrastructure. Part of the specification, it primar...
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