Product

A product is a vehicle for delivering value. It has a recognisable boundary, known stakeholders, and clearly defined users or customers. A product may be a service, a physical offering or something more abstract, and it evolves over its lifecycle; it is not automatically the same as a time-limited project.

Use the term when enduring responsibility for value, users, decisions and ongoing development needs to be clarified.

Every application, internal component or project deliverable is called a product without clear users, boundaries or a value proposition. Ownership and success criteria then remain ambiguous.