What is the process of deciding which product features are most significant?

The process of deciding which product features are most significant is known as Feature Prioritization. This process involves evaluating and ranking the importance of each feature based on various criteria such as user needs, market demand, development resources, and business goals.

In Feature Prioritization, stakeholders often use techniques such as the MoSCoW method (Must have, Should have, Could have, Won't have), RICE scoring (Reach, Impact, Confidence, Effort), or various other prioritization frameworks to systematically assess which features should be developed first to provide the greatest value to users and the business.

This focused approach ensures that resources are allocated effectively to the most impactful features, maximizing the potential for success in the market. By prioritizing features, teams can strategically align their development efforts with user expectations and business objectives, leading to more effective product outcomes.

While categories like Feature Development involve the creation and implementation of those features, and Feature Evaluation pertains to the analysis of already developed features for success or performance, neither of these processes directly addresses the ranking and selection aspect central to prioritization. Feature Allocation would typically refer to distributing resources among the prioritized features, but it does not involve the assessment of their significance.