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    Shashank Karanth
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    64 views7 pages

    MVP Assignment Template

    Uploaded by

    Shashank Karanth

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 7

    Assignment

    Minimum Viable Product

    Name: Shashank Karanth


    Question 1
    Suppose you want to build a money manager app similar to Walnut, which would track expenses of users and
    help them manage money. List down the problem statement (in one line) which you are trying to solve for
    users? (Word limit: 50)
    For example, in case of Airbnb it was: Through an online platform, it will be easy for people to find and rent
    places offered by the hosts

    Answer:
    Due to multiple modes and avenues of payment available today, people find it difficult to keep
    track of their expenses and an app can help them better manage their money.

    © Copyright. upGrad Education Pvt. Ltd. All Rights Reserved.


    Question 2
    In a session, you learnt how to identify the riskiest assumptions for Airbnb and a dessert subscription service.
    Now that you have defined the problem statement, list down the assumptions (in first column) which you might
    have about the viability of the business or about the users. Out of the listed assumptions, identify the riskiest
    ones (in second column). Provide your reasoning for choosing the riskiest assumptions. Fill your response in
    the table given on the next slide.

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    Answer 2

    Assumptions Riskiest (Yes/No) Reasoning


    People are willing to allow their messages to If they do not, there is no way for the
    be read by the app for tracking Yes business model to succeed as there is no
    visibility on transactions and thus, it becomes
    the riskiest assumption.
    People don’t mind getting notified about their If they do mind, they can always opt out or
    spending habits No turn off suggestions. How the user chooses to
    accept the suggestions will not affect the core
    business idea.
    People do not mind if the app tracks and People can choose to turn off the notifications
    categorises their expenses for analysis No (if they are too frequent) but they may still
    take into account the monthly reports
    generated through all the tracking
    People are willing to link their bank Linking the bank account is only an add-on to
    account(s) with the app No fetch and suggest account balance usage
    statistics. Expenses can still be monitored
    based on SMS/messages from merchants
    and businesses.
    People will consider the suggestions by the Suggestions are a feature provided by the
    app No app; it does not affect the core functionality

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    Question 3
    You listed the assumptions about a money manager app and identified the riskiest ones.

    Note down the list of possible product features which would be crucial to include in building the MVP for a
    money manager app. Also, ensure that you are mapping the features with the relevant assumptions. (Word
    limit: 150)

    Answer:
    1. Provide a monthly report with cumulative expenses made towards a particular category.
    2. Highlight top 3 areas of expenditures to suggest where most of the money is/was spent.
    3. Suggest areas of possible savings based on average user statistics.
    4. Provide option to fetch available bank balance (request for permission first and ensure end-to-end encryption).
    5. Suggest reminders for fixed monthly transactions such as electricity and phone/internet bills, groceries, etc. and
    provide interface for making payments towards the same.

    © Copyright. upGrad Education Pvt. Ltd. All Rights Reserved.


    Question 4
    Which metrics would be important for you to track in the money manager app MVP?
    Please list the same. (Word limit: 50)

    Answer:
    1. Total app downloads and retention
    2. Active users and their usage/app visit (daily, bi-weekly or more, monthly, etc)

    © Copyright. upGrad Education Pvt. Ltd. All Rights Reserved.


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