What are the differences and when do you need them?

Proof of Concept, Prototype, and Minimum Viable Product (MVP) are the three most common words you will hear during any software development. Each of those words describes a version of a finished product but at different stages of completion so it is very easy to get confused.

This post will guide all CTOs and Product Owners to learn how to start their software development. Having know-how of these three words is very important as these terms help in planning and defining the project. It is the most important part of the software development process.

So, let’s get started.

Proof of Concept (POC) -  Everything You Need to Know

Here we will explain POC in detail from its definition to uses and benefits.

What is Proof of Concept in IT?

A proof of concept is a bare-bones feasibility test of your central premise that determines whether or not an idea can be achieved.

A proof of concept only covers a portion of our potential product. Many POCs that discuss each of the features and functionality can thoroughly evaluate a complex idea.

What are the Main Points of POC?

The main points of POC are:

1. The concept addresses the basic question: Can a product be built or not?
2. It tests the assumption for the real-life final product
3. It helps to define the idea, functionality, feasibility of a product
4. It is a theoretical demo to see if the product is possible

When to use Proof of Concept?

#1: When you are Upgrading your Product with Latest Technology

At this point, a proof-of-concept helps you to assess the new feature's viability without putting the company at risk.

#2: When you are Boosting an Existing Technology

POC can help to determine which option is the best. It is possible to test hypotheses without actually designing a product. This helps businesses save valuable time and money.

#3: When you are using Third-Party Solution for your Project

Using a third-party solution is often risky, so conducting a feasibility check before deciding on a solution will save you a lot of time. A perfect example would be integrating a payment system into your app. Before you begin integrating the solution, make sure the technology is feasible.

Top 3 Advantages of Proof of Concept

The top 3 advantages of POC are as follow:

1. Project Managers can Identify Potential Risks and Hurdles

Creating a proof of concept helps project managers in identifying potential threats and barriers in the development process. Managers should predict challenges and schedule their projects accordingly while still planning, rather than discovering them before or after the product release. It helps them to eliminate risks and obstacles.

While the POC cannot guarantee a smooth execution of project management fundamentals, it can improve the product's chances of success.

2. Helps Develop Feasibility Report for Stakeholders

Before project managers may ask for funds for their plan, they must first convince their stakeholders that the investment is worthwhile.

They will demonstrate the idea's usability and viability through POCs. They can clearly illustrate the benefits of the proposed product to the company's operations, brand image, and customer relations, among other things.

3. Project Leaders can Forecast Future Chances for Scalability

When project managers consider developing a product, they and their stakeholders almost always expect it to be scaled up. As a result, project managers may use POCs to check the viability of a concept and its scalability, whether it is done immediately or over time. When in the proposal stage, POCs will assist project managers in addressing scope creep.

Final Note

Product development is like experimenting with a vision in mind. The process starts with placing the foundation right to create a POC and Prototype, supported by MVP. As discussed above, we have tried to erase the thin line between minimum viable product vs proof of concept vs Prototype and their role in validating a product. 

The POC helps clear your doubts about the feasibility of the idea. Prototype clears the doubts about the UX design and look of the product. And, minimum viable product helps gain continuous user feedback that forms the foundation for the full product.

You can choose one or even the combination of three to beat the odds of product development failure! If you have any further inquiries related to POC, Prototype and MVP development services, you can contact MVP app development company to get started.