After reviewing the project management plan with key stakeholders, the project manager was told that...

A minimum viable product (MVP) is a concept from Lean Startup that stresses the impact of learning in new product development. It is the simplest version of a product that allows a team to collect the maximum amount of validated learning about customers with the least effort. An MVP can help a project manager to deliver value to the customer faster, test the market demand, and reduce the risk of failure. To create an MVP, the project manager needs to review the project backlog and prioritize the features that are essential to solve the customer’s problem or satisfy their need. The project manager can use agile methods such as user stories, story mapping, and MoSCoW prioritization to identify and rank the features. The project manager can then plan and execute the development of the MVP within the expected timeline and gather feedback from the customer and stakeholders to validate the product and make improvements. References:

MVP Definition and Examples | Project Management Glossary - Jexo

What is a Minimum Viable Product (MVP)? | Agile Alliance

MVPs and MBIs - Project Management Institute