What feature prioritization techniques or models deliver the best results for the end product, in your experience? What approach do you use in your organization?

In our company, we use the MoSCoW method, which stands for Must have, Should have, Could have, and Won't have. This method is useful for urgency-based prioritization. Depending on the situation, we combine different models, including RICE and Kano modeling. Kano differentiates between basic, performance, and delight features to enhance user satisfaction.

We've used the RICE framework multiple times, especially when we need to understand specific sequencing or make tie-breaking decisions. RICE helps formalize our prioritization process.

We've had success using a priority matrix. We rank each feature based on internal value to the business, external value to the customer, and effort to implement. Sometimes, we add a fourth dimension depending on the product. This matrix helps us visualize what we should be working on. Revenue impact is a significant factor in internal value, while customer experience impacts external value. The matrix provides a good visual representation, although we need to be mindful of how large effort items are represented.

Based on my experience, feature prioritization is a collaborative effort between product and engineering leadership. We primarily consider three aspects: the reach of the feature, the impact it could have, and the effort involved in developing it. We also make use of existing data, such as velocity and the number of projects or epics completed per release. Additionally, we consider business and user feedback. It's a balance between new features, tech debt, and disruptive technologies like AI. This approach helps us prioritize effectively without losing track of upcoming evolutions and existing customer issues.