MVP Product Management

What is MVP product management? You can have more awareness of this topic. If you want to understand more information, read this study.

What is MVP Product Management?

Product management is a very important part of the product development process. It is the process of selecting and managing products. MVP product management is also called minimum viable product management.

The MVP concept begins with the idea of ​​product creation, which will be developed into a fully functional product in the future. The MVP concept starts by asking, What is this product? What is it for? How can it be used? Who will use it?

• Reduce the possibility of post-launch failure.
• The ability to acquire information about the market demand.
• Immediate and continuous feedback from the market.
• Rapid, cost-effective, and error-free product development.
• Quick response to customer needs.

MVP Product Management Process:

• Identify the problem that needs to be solved.
• Get everyone involved in the process.
• Be responsible for the business.
• Creative and innovative.
• Be persistent and patient.

Goals and Missions

The goal of MVP product management is to create a minimum viable product. The mission of MVP product management is also to bring value to users.

Minimum Viable Product:

• Minimum: It must have a basic concept and function. 
• Viable: It must satisfy the market demand. 
• Product: It must be a complete product that can be used by customers.

Role

The key role of the product manager is to constantly monitor the development process of this product. Also, the product manager is the owner of this product and is the most concerned about it. 

The main job is to communicate with the customers, know their needs and give them what they want. Also, the MVP product manager always follows the latest trends in technology and uses simple and clear language to communicate with customers. 

He/she must always be able to solve problems, make decisions quickly and accurately. Also, have a good understanding of the market, be able to distinguish between good and bad products, and make decisions based on these conclusions. 

He/she must be able to keep the team informed of transparent problems and work methods, and always show the process of product development to customers.

• have a good understanding of technology. 
• effectively communicate with customers. 
• good at problem-solving and making decisions. 
• understand customer needs. 
• persistent and patient. 
• good memory and be able to remember the details of product development. 
• understanding of market trends in technological fields. 
• work under pressure without affecting work quality.

Drawbacks

MVP product management is a good way to reduce the failure rate of software products. But it has several shortcomings. The main problems with MVP product management are as follows: 

• A very small percentage of MVP products succeed.
• Time-consuming and costly to develop MVP products.
• Often difficult to find the right users, especially in large companies.
• MVP product managers often do not have sufficient power to manage the project team or the company’s resources are not enough to support them.
• MVP products are generally developed too quickly and thus lack advanced features that can meet the needs of users or meet their expectations.

Conclusion

I have learned a lot from the study I have done. Also, I have learned that MVP product management is a very important part of the product development process.