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Minimum Viable Product (MVP)

A Minimum Viable Product (MVP) is originally a Lean Startup concept but can be applied to any product in any framework. In the words of Eric Ries, the MVP is a learning vehicle as it allows Teams to test their idea by exposing an early-stage product to the potential target customers to collect data and learn from it. It is a version of a new product that didn’t require a lot of work but supposedly already brings value to its users. Analyzing data allows the Team either to reject the idea and search for the next big thing or to validate the idea as economically viable and continue development.