Concerning product management tools for digital solutions, there are a couple of good options for selecting the proper prioritizing product-related technique.

I love visualization when collaborating with customers, and I warmly recommend the Pareto Charts. However, there are other good tools where, instead of numbers, one prefers groups. For instance, we, product folks, use the priority matrix (importance, impact, efforts) or optionally the Eisenhower matrix (do first, do later, delegate, or eliminate). But there is still something else that works well.

Now, let’s take a closer look at the MoSCoW prioritization technique suitable for effective communication and modern product management.

The MoSCoW, instead of numbers, uses four priority groups.

MoSCoW stands for:

• Must have (essential and critical for the business)
• Should have (important, but not critical for the business)
• Could have been (helpful, but not critical for business)
• Won’t have (out of scope, but essential to record)

MoSCoW is my recommended way to prioritize acceptance criteria, product changes, or quality criteria in managing projects. It is a precise, straightforward, and practical medium to collaborate with stakeholders, partners, and customers. It guarantees that product requirements are precise and that all parties involved are on the same page.

I see the MoSCoW technique as a preferable assistance in defining project scope tolerances, supporting the Prince2® principle “Manage by Exception.”

Suppose you always want to propose to your clients the best practices supporting the proper communication techniques. In that case, you must start experimenting with diverse prioritization techniques to find what fits you best. I am sure you would love the MoSCoW.

There is no point in giving you valuable tools or techniques unless you can put them into action. You must practice, practice, and practice, always or at least often. 😉

Let me know your thoughts about it or if you have any other ideas, tools, and techniques for product prioritization, share them with us. Thank you!

Dr. Juraj Hanus, hanus@taxapa.com

Data Analytics & Automotive Applications Expert for Dealerships