A company has started developing a new product.

Releasing a minimum viable product (MVP) is a strategy used to quickly get a new product or service version with enough features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product’s initial users. This concept is part of the agile methodologies that emphasize the value of early and continuous delivery of valuable software and align with the principles of iterative development and customer collaboration. It is a way to validate the market demand for the product and adjust the product direction early in the development process to avoid the risk of being outpaced by competitors. References: The information provided aligns with the agile practices and principles outlined in the PMI’s foundational standards and guides, such as the PMBOK® Guide and the Agile Practice Guide, which are part of the PMP reference materials12. Additionally, the Professional in Business Analysis Reference Materials also support the importance of early stakeholder engagement and iterative development for successful product outcomes3.