From the course: Becoming a Product Manager: A Complete Guide

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How do product managers think about MVPs?

How do product managers think about MVPs?

From the course: Becoming a Product Manager: A Complete Guide

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How do product managers think about MVPs?

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- Hey guys, welcome back to the course. So this lecture we're going to get even deeper into the concept of an MVP. We now know the academic sense of what an MVP is. Now we're going to ask the question, "What is an MVP to a Product Manager?" Well, let's first start with what we established in the previous lecture. MVPs are Minimum Viable Products, which are basically experiments that we're going to run to simulate whether or not people are interested in a new product or feature we're proposing to build. This primarily is used as a way to mitigate risk and to save us from wasting tons of resources building out the full thing. Risk is defined here on a number of different dimensions, but the main ones are risk of losing resources. Resources like time, resources like money, also things like opportunity cost. So time, money and opportunity cost. As a product manager, are those three things going to be your top priority?…

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