Project Everest

Adopted Experiment

[Proposed Experiment]: Utility Testing MVP functions Fiji January 2020

Lean phase: Solution 


Assumption: Current MVP users who are not recording their daily transactions are doing so because the MVP is lacking in some form (not easy to understand, or customers do not find it helpful). Therefore, the MVP can be improved by expanding existing features and adding new features (balance sheet, control flow statement, forecast) that are easy for users to navigate and also aid them in obtaining their loans. 


Time box: 1 week


Success metric: % of MVP users that identify a need for more features in the MVP or express dissatisfaction with the current services available. 


Criteria: Improving the MVP to meet each of the financial institution’s (FI) individual requirements in order to help increase overall chances of obtaining a loan. Examples of this are exploring the potential of adding the following features into the MVP; business plan, forecasting, cash flow statement and balance sheet.


Green light: Ask customers what additional features or changes would be most helpful for them. Continue to develop the MVP and test any new features.


Success Point: 66% of MVP users that identify a need for more features in the MVP, or express an interest in the expansion of the MVP. 


Orange light: Customers may not understand the features needed in the MVP that would be most beneficial for them. In this case, more research is required to suggest some potential features such as business plan, balance sheet, CFS, and forecast. Explain clearly how these features could potentially enhance their experience while using the MVP and assist them in obtaining their loans. 


Failure Point: 0% of MVP users express interest in additional features. 


Red light: Customers may prefer the more simplistic product. Alternatively, customers are using the MVP sporadically and there is not enough information or feedback to further develop the MVP. In this case, we should re-evaluate the MVP, as a tech-based solution may not be feasible.


 


Experiment build:



  1.  Research the possibility of adding additional features to the MVP, specifically a balance sheet, CFS, business plan and forecast. Understand what is required to add these into the MVP. 




  2. Design a survey for current customers. Call customers to plan a face-to-face meeting.




  3. Meet with MVP users and go through survey questions. Record their response. 




  4.  Collate data from the survey. Analyse and identify the features that need to be changed, if any. Add these into the MVP and continue to utility test these features. 



 


 

Haziq Ahmed 3 weeks ago

Status label added: Adopted Experiment

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