Definition

An item expected to complete work within estimated time and effort.

Core principles

• Treat as experiments.
• Measure output-to-outcome conversion (potential to actual value).
• Define failure (falsification) and success criteria upfront.
• Discontinue if knowledge and experience gain prove unfeasible, or resources not unavailable.

Characteristics

• Deliverable
• Demonstrable
• Releasable

Successful outcomes

• Value created (completely new).
• Value added (to existing).
• Value enabled (for (future) others, future self).
• Lessons learned (pivot direction).
• Waste prevented (via feedback).