A Proof of Concept (POC) is an early-stage prototype used to determine whether or not a software product can be made. The intention of a POC is to evaluate the viability and feasibility of a particular idea. A POC can facilitate the decision-making process when examining how much money, time and resources should be invested into a project before going into production with it.
Proof of concept is an experimental demonstration that a new product, service, or system satisfies the requirement. An effective proof of concept helps to establish value for the business, user, and marketplace. A PoC demonstrates the viability of an idea and allows you to gain stakeholder buy-in before committing significant resources or starting execution.
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Mitigating Risk - Mitigating risks is a key component of the Proof of Concept. The best way to mitigate risks is by proposing multiple ideas that can be tested before deciding upon a final solution.
Anticipating problems and solutions - You can identify potential solutions and foresee future issues with your idea by doing a proof of concept exercise. A proof of concept exercise can show you how your idea might function in practice, enabling you to spot possible issues before they arise and come up with solutions.
Gaining Stakeholders - The acquisition of stakeholders is a further advantage of finishing a proof of concept. A proof of concept can demonstrate the viability of your idea, which may draw the interest of investors and other stakeholders. You may be able to get the resources you need to launch your product as a result.
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Create objectives for your proof of concept
Develop a plan for your proof of concept
Evaluate the need for your proof of concept
Get feedback from your proof of concept team
Make a decision about feasibility based on your proof of concept