A "Minimum Viable Product" (MVP) Is a Version of a New

question 53

True/False

A "minimum viable product" (MVP) is a version of a new product concept which allows a team to collect the maximum amount of feedback with the least effort.

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Definitions:

Control Subsystem

A component of a management system designed to regulate the operation and ensure activities are aligned with objectives.

PDCA Cycle

A method of process improvement comprising four steps: Plan, Do, Check, and Act.

Deming

Refers to W. Edwards Deming, a statistician and quality control expert who developed principles for improving business processes and product quality.

Pareto Analysis

A statistical technique in decision-making used to select a limited number of tasks that produce significant overall effect.