Making trade-offs with the MoSCoW method
MoSCoW turns overwhelming feature lists into manageable priorities. The acronym stands for Must have, Should have, Could have, and Won't have. This method excels when launching new products or planning releases with fixed deadlines.
Must-haves are non-negotiable. Without them, the product fails. Should-haves are important but not vital for launch. Could-haves are nice additions if time permits. Won't-haves are explicitly out of scope, preventing scope creep.
The power lies in forcing explicit decisions. Teams often discover their "must-haves" aren't truly essential. A payment system might be must-have for an e-commerce site but could-have for a content platform monetizing through ads. This clarity helps teams ship on time while ensuring core value delivery. This approach is more subjective than scoring frameworks, but its simplicity often makes it easier for stakeholders to understand.
Pro Tip: Limit must-haves to features without which the product literally cannot function or fulfill its core purpose.