A company has decided to investigate the feasibility of a new product.

minimum viable product (MVP) is a version of a product that has enough features to satisfy early customers and provide feedback for future development1. The project manager should use an MVP to validate the customer requirements and test the assumptions and hypotheses about the product value and feasibility2. An MVP can help the project manager to learn from the customer feedback and make adjustments to the product scope and design3. Creating product documentation, a survey, or a prototype with all features are not as effective as an MVP in validating the customer requirements and obtaining feedback. References:

1: PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Seventh Edition, Project Management Institute Inc., 2021, p. 177.

2: PMI, The Standard for Project Management – Seventh Edition, Project Management Institute Inc., 2021, p. 63.

3: PMI, Agile Practice Guide, Project Management Institute Inc., 2017, p. 36.