PM Terminology

You will learn: commonly used product management terminology.

Glossary

• MVP (Minimum Viable Product): the first launched version of your product to customers. It is developed with a minimum number of features to solve your problem in a simple way. It is generally used as a trial tool only.

• MLP (Minimum Lovable Product): similar to an MVP, but with special consideration for its design and UI. It aims to solve the problem, but also delight users.

• MMP (Minimum Marketable Product): this is the version of your MVP (or MLP) which you will launch to market.

• Business Impact Analysis (BIA): predicts the consequences of disruptions to a business by collecting data and measuring metrics to develop alternative strategies if our proposed solution fails.

• KPI (Key Performance Indicator): metric to measure and evaluate the success of an organization or certain activity towards achieving a goal.