Which way out? - The Importance of Exit Criteria

One of my fundamental criteria for starting a new product release is being able to define the Exit Criteria.

As a rule of thumb it is being able to answer the following five simple questions with accurate and complete answers (the questions are simple - the answers less so ...)

1. WHAT? - What are we building? What the key features and product values that the release will deliver?
2. WHY? - What are the key benefits that the customer will derive from the product when it is released? What are the values and advantages that the release will bring to the product family/company?
3. WHO? - Who needs the product? If this is a release for the market then define the customer - specific accounts or profile the type of user that the product is targeting. Also state who will help with the necessary integrations, GTM efforts and other internal stakeholders. If this is an internal development effort then who is the internal sponsor and who is tasked with supporting the integration and deployment.
4. WHERE? - Where should the product be delivered? Describe the internal or external deployment scenarios and any pre-requisites that will make the difference between a successful launch and failed one.
5. WHEN? - What is the timeline for this release? When must the product be in the marketplace or delivered internally? 

Once defined these criteria should be critically analysed to ensure that they are coherent and meet the SMART (Specific, Measurable, Achievable, Relevant & Time-bound) criteria. Will they meet the overall objectives? Will the product as defined meet customer expectations? Is the product definition correct? Can it be delivered in the time-available? Is the target customer the correct one to achieve the overall aims? Is the target environment feasible. Answering these questions will often force a rethink and changes, but should result in a clear definition of expectations. The entire team can adopt the final definition adding purpose and clarity. It is also critical in managing any changes that maybe needed during development


Overall the Five W's set out to define what does the product need to do, by when in order to make somebody very happy?

In my experience this is an iterative process, but, answering these five simple questions adds significant clarity to the product objectives and can make the difference between a successful product and a poor executed product that takes significantly more time and resources to develop and then fails to deliver most of what was expected.