Product management glossary
MoSCoW method
Definition: MoSCoW is a prioritization method that sorts requirements into Must have, Should have, Could have and Won't have (this time).
Must haves are non-negotiable for the release. Should haves are important but not vital. Could haves are nice to have if time allows. Won't haves are explicitly out of scope for now, which is often the most useful category because it makes the no visible.
MoSCoW works well for fixed-scope releases and for aligning stakeholders quickly. It is less useful for ranking a long backlog, because too many items end up as Must.