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?
Implementing only the core features essential for the application's primary function.
Requesting an extension to the project timeline to include all user-requested features.
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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