MVP

The definition turns on the word viable, which names a hypothesis rather than a feature set. The right question is which assumption, if wrong, ends the project — and what is the cheapest honest test of that one assumption. Sometimes it is software. Often it is a landing page, a spreadsheet operated by hand, or twenty conversations.

An MVP that tests nothing is just a small product with a flattering name, and it costs the same as a small product.

Cutting scope instead of choosing a hypothesis

Teams build a quarter of the roadmap, ship it, and learn nothing — because the risky assumption was demand, and every feature they cut was on the supply side. Name the assumption first; the scope follows from it rather than the other way round.

Jobs to be done

The framing that a customer is not buying a product but hiring it to make progress in a situation.

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Wireframe, mockup, prototype

Three different artefacts, each answering a different question, routinely used as if they were three levels of polish.

All forty-five termsWhat this is regulated by in the UAE

Is this one right in your own numbers?

The definitions are the easy part. Whether the figure on your dashboard was computed this way is a different question, and usually the more expensive one.