The MoSCoW method is a four-step prioritization approach for effectively managing project requirements. It is about Time Management.
MoSCoW stands for Must have, Should have, Could have, and Will not have. The o’s are only included for better pronunciation.

Many businesses use the MoSCoW method to figure out which tasks are most important and how their completion impacts revenue growth, cost reduction, getting more done, or customer satisfaction.

Additionally, through prioritizing requirements, project teams gain a clearer understanding of the effort and resources necessary for each project component. This method helps teams work quickly to decide which tasks to focus on first. This leads to improved time management, project manageability, timely completion, and optimization of return on investment (ROI).

MoSCoW-Prioritization
Although the title of each category already gives a general idea of its purpose, it's important to have distinct definitions for each priority level.

Must-have (M):
The "Must" requirements are essential to the project's success and are non-negotiable. These requirements hold the highest priority and must be finished on time.

How to determine
An easy way to determine whether a task is a “Must” depends on the answer you give to the question "Will the project fail if this task isn't finished?" If the answer is "yes", then this is a must-have component.

Should-have (S):
The “Should” requirements are essential but not critical. They are not critical to the project's success, but their inclusion will significantly enhance the product value.

These requirements consist of high-priority tasks that should be completed whenever possible. But even without them, the operation will continue smoothly without disruption.

How to determine
One way to distinguish a “Should Have" requirement from a "Could Have" is by reviewing the level of impact it may cause if the requirement is not fulfilled, evaluated in terms of business value or the number of people affected.

Could-have (C):
These requirements are highly desirable but you can skip them if you don't have enough time or resources. Look at them as the bonuses of your product.

How to determine
To determine if a feature is a “Could Have" or a “Should Have" think about how much it will add value to your product for customers. The same way we used to determine tasks for “Should Have”.

Will not have (W):
The “Won’t have” requirements are ideas for your project that are not worth spending time and resources, or you would like to include in your product, but for some reason can't.

How to determine
Is implementing these requirements worth the time, effort, and the investment?

Conclusion
The MoSCoW method is user-friendly, fairly simple to use, ensures minimum viable product delivery, sets priorities, utilizes team expertise, and can be applied to both new and existing projects, making it a great tool for teams of any level.

 Nurten Kovacheva, Senior Software Entwicklerin, INTEGRATE Informatik AG