Minimum Viable Product Development
Launch Plan, Skills, Investments
Minimum Viable Product development is nothing but a process where business assumptions particular to custom software are verified along with testing the demand for a new product at a low cost.
The development stage for MVP differs based on the application of code and hence the time taken to deliver the MVP also varies.
Generally, the MVP’s delivery time ranges from two weeks to seven months.
When it comes to the development stage, for no code or low code development it takes two to five days, however, for code-based development, it takes six months.
Nevertheless, the investment for launching a software-based MVP ranges from 1/10 to 1/3, roughly, of the final software cost.
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Minimum Viable Product Implementation Plan
In order to get a comprehensive minimum viable product implementation plan, contact Livyoung Realtech Enterprise. We provide complete detail about the steps and time required to develop MVP. However, steps and duration vary based on the intricacy and uniqueness of a solution along with the type of the product.
STEP 1. DISCOVERY & MVP PLANNING (2 weeks-1 months)
Business Analysis for product
- idea generation of product
- building a product concept
- selling price
For custom enterprise software
- detecting options for business needs and process improvement
- interviewing
- creating a software idea concept
Road-mapping
- outlining feature
- prioritizing feature
- MVP functionality
Architecture design
- advanced level design
- performance necessities
- data security necessities
- compliance with HIPAA, PCI DSS, FDA, etc.
MVP Integrations
- integrating with a third party, if required
Technology Stack
- considering time, cost, and energy in developing MVP
STEP 2. PROOF OF CONCEPT & RAPID PROTOTYPING (2 months)
- Communicate the process of software functionality
- Check the technical viability
STEP 3. MVP DEVELOPMENT PROJECT PLANNING
- Project scope
- Project deliverables
- Budget planning
- Project timeline
- Project iteration
- Project risks charter
STEP 4. MVP DEVELOPMENT (2 days- max)
Code-less MVP Development
- A ‘landing page’ MVP
- A ‘flintstone’ MVP
Code-based MVP Development
- Single-feature MVP which generates the core value
- ‘piecemeal’ MVP using already existing tools
STEP 5. MVP LAUNCH & FURTHER ITERATIONS
- Launching MVP
- Validating or redefining user stories
- Check for risks
- Implement a risk management plan
- Managing features
- Do improvisation, if needed
Skills Needed for Software-based MVP Development
Livyoung Realtech Enterprise encompasses both the professionals and required skills to develop software-based Minimum Viable Product.
Project Manager
- Manage the MVP development project
- Check on delivery time and price
UX Designer
- Research-based on UX
- Create user interactions with an MVP
- Testing
Business Analyst
- Functional and non-functional MVP demand
- Technical glitches
- Explain MVP components
- Integration
Back-end developers
- Generate MVP server side and APIs
Front-end developers
- Build MVP customer slide
UI Designer
- Smart and high standard user-facing MVP interface
- Ease of communication with UI designers
Quality Assurance Engineer
- Designing test strategy and plans
- Execution of test strategy and plans
- Validation of the MVP development
- Present test summary reports
MVP Development Costs
Roughly, the investment for launching a software-based MVP ranges from 1/10 to 1/3, of the final software cost.
The entire cost of MVP development is determined by a number of factors:
Platforms handled
Type of application (web, mobile, and desktop)
How complex is the MVP development process!
Design’s intricacies
One-way or two-way integration with third party
MVP criteria for efficiency, reliability, security, dormant capacity, and adaptability
Maintenance of existing data
For outsourced development, the location of MVP development matters.
Sourcing Models of MVP Development
Basically, we support four sourcing models of MVP Development:
All in-house
Partial (technical only)
Full (technical only)
Complete outsourcing
Build the Right MVP with Us
We have had several experiences in assisting our clients in developing the right MVP and thus, you can rely on us.
We provide:
Consulting
- We help you with MVP developing ideation and describe its functionality.
- Also, we outline the MVP tech stack, architecture, artificial intelligence, machine learning, big data, and more.
- We provide a well-defined MVP development and implementation roadmap.
- To excel, you need to comply with business policies, GDPR, and other regulations like HIPAA, FIPS, etc.
End-to-end solution
- We have a team of experts that handles everything related to MVP idea generation, feature management, UI/UX design, MVP architecture, launch and support, iteration, etc.
We’re just a call away!
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