The competitive advantage gained by the initial significant occupant of a market segment, which can lead to brand recognition and customer loyalty. Important for understanding the benefits and risks of being an early entrant in a new market.
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. Essential for validating product ideas quickly and cost-effectively, allowing teams to learn about customer needs without fully developing the product.
Minimum Viable Experience (MVE) is the simplest version of a product that delivers a complete and satisfying user experience while meeting core user needs. Essential for rapidly validating product concepts and user experience designs while ensuring that even early versions of a product provide value and a positive impression to users.
Time to Value (TTV) is a metric that measures the time it takes for a customer to realize the value of a product or service after purchase. Crucial for optimizing customer satisfaction and improving business outcomes.
A cognitive bias that leads individuals to prefer things to remain the same rather than change, often resisting new options or changes. Crucial for understanding resistance to change and designing strategies to overcome it among users.
Model-Based Systems Engineering (MBSE) is a methodology that uses visual modeling to support system requirements, design, analysis, and validation activities throughout the development lifecycle. Essential for managing complex systems, improving communication among stakeholders, and enhancing the overall quality and efficiency of systems engineering processes.
Walk the Wall (WTW) is a practice where team members physically move along a wall displaying their project's progress, discussing and updating tasks. Essential for fostering team collaboration and ensuring transparency in project status.
User-Centered Design (UCD) is an iterative design approach that focuses on understanding users' needs, preferences, and limitations throughout the design process. Crucial for creating products that are intuitive, efficient, and satisfying for the intended users.
Market Requirements Document (MRD) is a comprehensive document that outlines the market's needs, target audience, and business objectives for a product. It serves as a crucial tool for aligning product development efforts with market demands and business goals, ensuring that the final product meets customer needs and achieves market success.
Minimum Marketable Feature (MMF) is the smallest set of functionality that delivers significant value to users and can be marketed effectively. Crucial for prioritizing development efforts and releasing valuable product increments quickly, balancing user needs with business objectives.
Internet of Things (IoT) refers to a network of interconnected physical devices embedded with electronics, software, sensors, and network connectivity, enabling them to collect and exchange data. Essential for creating smart, responsive environments and improving efficiency across various industries by enabling real-time monitoring, analysis, and automation.
The process of making a new feature available to users, often involving coordination between development, marketing, and support teams. Essential for managing the rollout and communication of new features to users.
Dynamic Systems Development Method (DSDM) is an agile project delivery framework focused on delivering business value early and continuously. Essential for ensuring that projects align with business goals and user needs through iterative processes.
User Experience (UX) refers to the overall experience of a person using a product, system, or service, encompassing all aspects of the end-user's interaction. Crucial for creating products that are not only functional but also enjoyable, efficient, and satisfying to use.
A small, cross-functional team of 6-12 people focused on delivering a specific product feature or component. Essential for agile development, allowing for rapid iteration and close collaboration among team members.
Software as a Service (SaaS) is a software distribution model where applications are hosted by a service provider and accessed over the Internet. Crucial for enabling scalable and cost-effective software solutions for users.
Minimum Viable Feature (MVF) is the smallest possible version of a feature that delivers value to users and allows for meaningful feedback collection. Crucial for rapid iteration in product development, enabling teams to validate ideas quickly and efficiently while minimizing resource investment.
The practice of promoting and representing the needs, interests, and rights of users in the design and development process. Important for ensuring that user needs and perspectives are prioritized in product design and development.
A brief daily meeting in Agile project management where team members share updates on their progress, plans for the day, and any obstacles they face. Essential for maintaining communication, transparency, and coordination within Agile teams.
A time-boxed period during which specific work must be completed and made ready for review, used in Agile project management. Crucial for managing workload and ensuring continuous delivery and improvement in Agile projects.