Product prioritization frameworks

Product prioritization is the process of determining which features, enhancements, or products to develop next. It involves evaluating various options and choosing the ones that will provide the most value to users, stakeholders, and the business. There are several frameworks that can be used to guide this process, each with its strengths and weaknesses. Here, we’ll discuss some of the most popular product prioritization frameworks and how they can be applied to make strategic decisions about product development.

Kano Model

The Kano Model is a framework for understanding customer needs and preferences. It is based on the idea that there are three types of user requirements: basic, performance, and excitement. Basic requirements are those that users expect to be met, performance requirements are those that users value more as they are met better, and excitement requirements are those that users did not know they wanted, but are delighted to have. The Kano Model can be used to prioritize product development by focusing on meeting basic requirements first, then addressing performance requirements, and finally, working on excitement requirements.

MoSCoW Method

The MoSCoW Method is a prioritization technique that stands for Must Have, Should Have, Could Have, and Won’t Have. The ‘Must Have’ requirements are the ones that are essential for the product to be successful. ‘Should Have’ requirements are important, but not essential. ‘Could Have’ requirements are nice to have, but not critical. ‘Won’t Have’ requirements are not necessary for the product and can be deferred or omitted. The MoSCoW method can be used to prioritize product development by focusing on ‘Must Have’ requirements first, then addressing ‘Should Have’ requirements, and finally, working on ‘Could Have’ and ‘Won’t Have’ requirements.

RICE Method

RICE method is a framework for prioritizing product development based on the potential impact, feasibility, and confidence of an initiative. It stands for Reach (potential number of users impacted), Impact (impact on the business), Confidence (likelihood of success), and Effort (resources needed). By scoring initiatives on each of these four factors, teams can prioritize the development of features and enhancements that will have the greatest impact on users and the business with a high degree of confidence and relatively low effort.

Eisenhower Matrix

The Eisenhower Matrix is a tool for prioritizing tasks based on their urgency and importance. It is based on the principle that not all tasks are created equal and that some tasks are more important than others. Tasks are divided into four categories: urgent and important, important but not urgent, urgent but not important, and neither urgent nor important. The Eisenhower Matrix can be used to prioritize product development by focusing on tasks that are both urgent and important, then addressing important but not urgent tasks, and finally, working on urgent but not important tasks.

The Value vs. Effort Matrix

Value vs Effort matrix, also known as the Impact vs Effort matrix, is a framework that balances the importance of a given feature or task with the effort required to complete it. It plots the features or tasks on a grid of high-value/high-effort to low-value/low-effort. By looking at where each item falls on the grid, teams can prioritize which features or tasks to tackle first.

These are just a few of the popular product prioritization frameworks that can be used to guide strategic decisions about product development. The key is to find the framework that works best for your organization and to be consistent in its application. A well-executed product prioritization process can help ensure that your development efforts are aligned with your business goals and are providing maximum value to the users.