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A minimum viable product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. [ 1 ] [ 2 ] A focus on releasing an MVP means that developers potentially avoid lengthy and (possibly) unnecessary work.
Lean startup is a methodology for developing businesses and products that aims to shorten product development cycles and rapidly discover if a proposed business model is viable; this is achieved by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning.
The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
[5] [6] Requirements quality can be improved through these and other methods: Visualization. Using tools that promote better understanding of the desired end-product such as visualization and simulation. Consistent use of templates. Producing a consistent set of models and templates to document the requirements. Documenting dependencies ...
A business model design template can facilitate the process of designing and describing a company's business model. In a paper published in 2017, [ 48 ] Johnson demonstrated how matrix methods may usefully be deployed to characterise the architecture of resources, costs, and revenues that a business uses to create and deliver value to customers ...
[5] Requirements come from different sources, like the business person ordering the product, the marketing manager and the actual user. These people all have different requirements for the product. Using requirements traceability, an implemented feature can be traced back to the person or group that wanted it during the requirements elicitation.
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BS 7373-2:2001 Product specifications. Guide to identifying criteria for a product specification and to declaring product conformity [5] BS 7373-3:2005, Product specifications. Guide to identifying criteria for specifying a service offering [6] A design/product specification does not necessarily prove a product to be correct or useful in every ...