Lean Start-Up Flashcards

1
Q

Summarise the life cycle of Lean Start-Up

A
  1. Leap of faith (Choose to build MVP not wait to end of project to handover)
  2. What makes a successful product?
  3. Build MVP (Prototype)
  4. Offer to early Adopters
  5. Measure success by validated learning
  6. Hypothesise & experiment to improve product
  7. Measure success by validated learning
    -7a. If successful put into mainstream
    -7b. If not hypothesise & experiment again
    Or pivot and try a new leap of faith
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2
Q

What are the concepts/priorities of Lean Start-Up?

A

1.) Core Concepts:
• Build, measure learn (Ready, Fire, Aim)
• Create a minimum viable product
• Fail Fast
• Validated Learning

2.) Focuses on uncertainty, learning and handling change
3.) Refers to “Shortening or accelerating the feedback loop”
4.) Learning needs to be measurable

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3
Q

What is an MVP?

A

• Minimum Viable Product
• Something built to enable max validated learning in the shortest possible time/effort
• What’s fit for purpose to be presented to the customer at a given stage
• May not go into operational use
• Maybe an expirement
• Releasing frequently may help with metrics

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4
Q

What are Testers of MVPs called?

A

Early Adopters
Beta Testers
User Acceptor Testers
Focus Groups

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5
Q

In Lean Start-Up what is it to “Pivot”?

A

• There has been stall on growth/major unexpected issue
• Significant change in direction
• Requires a new leap of faith
• Must be consumer centric and listening to the feedback

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6
Q

In Lean Start-Up, what happens when a work package has been completed and ready to be put into operational use

A

• Work Package ticked off
• Sent to Senior User to be allocated to User Resource for feedback

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7
Q

What are the two instances in which the PB needs to check CBJ?

A
  1. PM raises an exeption
  2. Every Stage Boundary
    - In Lean Start-Up, continuous customer feedback allows CBJ to be assessed
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