A project manager is leading a team to develop a new mobile banking application. The project is under significant pressure due to a fixed launch date and a limited budget. The initial plan included over 50 features. To ensure a successful launch under these constraints, which of the following approaches should the project manager prioritize?
Requesting an extension to the project timeline to include all user-requested features.
Implementing only the core features essential for the application's primary function.
Adding several unique features to ensure the application outperforms competitors at launch.
Developing a comprehensive application addressing all 50+ originally planned features.
Implementing the core features essential for the product's primary function aligns with establishing a minimally viable product (MVP). Focusing on an MVP enables the team to deliver value to customers promptly while managing limited resources effectively. Developing a comprehensive application with many features or extending the timeline contradicts the project's constraints of a tight deadline and limited budget.
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What is a minimally viable product (MVP)?
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