Term: buy-a-feature

Buy A Feature

What is Buy A Feature?

Buy A Feature is a collaborative prioritization technique used in product management where participants are given a limited budget to "purchase" potential features, helping teams understand which features are most valued by customers or stakeholders.

Synonyms: Feature Buying Exercise, Collaborative Feature Prioritization, Budget-Based Feature Selection

How Buy A Feature Works

Buy A Feature is a game-like exercise where participants, typically customers or stakeholders, are given a set budget of play money. They then "buy" features from a list of potential product enhancements. This process helps product managers understand which features are most valued and why.

Benefits of Using Buy A Feature

Customer-Centric Prioritization: By directly involving customers in the decision-making process, Buy A Feature ensures that product development aligns with user needs and preferences.
Quantifiable Results: The exercise provides clear, numerical data on feature preferences, making it easier for product teams to make informed decisions.
Encourages Collaboration: Participants often discuss and negotiate during the exercise, providing valuable insights into their thought processes and priorities.

When to Use Buy A Feature

Buy A Feature is particularly useful in the following scenarios:

During product planning phases to determine which features to include in the next release
When facing budget constraints and needing to prioritize a limited number of features
To gather feedback on potential new features or product enhancements
As part of a larger product strategy session to align stakeholders on priorities

Frequently Asked Questions

How many participants are ideal for a Buy A Feature session?: Typically, 8-12 participants work well, but it can be adapted for smaller or larger groups.
How should feature prices be set?: Prices should reflect the relative cost or complexity of implementing each feature. More complex or time-consuming features should be priced higher.
Can Buy A Feature be conducted remotely?: Yes, there are online tools and platforms that allow for remote Buy A Feature sessions, making it accessible for distributed teams or customers.
How does Buy A Feature differ from other prioritization methods?: Unlike methods like MoSCoW or simple voting, Buy A Feature introduces budget constraints and encourages participants to make trade-offs, more closely mimicking real-world decision-making.