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Product Management Glossary

Clear, concise definitions of the terms product managers use every day. Each entry links to a full explainer with examples, related concepts, and FAQs.

Acceptance Criteria

The specific conditions a feature must satisfy for a user story to be considered complete and ready for release.

Agile Product Management

An approach to product development that emphasizes iterative delivery, customer feedback, and adaptive planning.

Continuous Discovery

The practice of regularly talking to customers and testing assumptions throughout the product development process.

Decision Graph

A structured map that captures every product decision along with its context, alternatives, and outcomes.

Feature Flag

A toggle that lets teams turn features on or off in production without deploying new code.

MVP (Minimum Viable Product)

The smallest version of a product that lets you test a core hypothesis with real users.

OKRs (Objectives and Key Results)

A goal-setting framework that helps teams define what they want to achieve and how they will measure progress.

PRD (Product Requirements Document)

A document that describes what a product or feature should do, who it is for, and why it matters to the business.

Product Intelligence

The practice of combining usage data, customer feedback, and market signals into a unified view that drives product decisions.

Product-Led Growth (PLG)

A go-to-market strategy where the product itself drives customer acquisition, conversion, and expansion.

Product-Market Fit

The point at which a product satisfies a strong market demand and users genuinely need what you have built.

Product Ops

A function that supports product managers by streamlining tools, data, and processes so PMs can focus on strategy and execution.

Product Roadmap

A high-level plan that communicates the direction and priorities of a product over time to internal teams and stakeholders.

Product Spec

A detailed description of how a feature should work, including behavior, edge cases, and technical considerations.

Scrum

An agile framework that organizes work into short, time-boxed sprints with defined roles and ceremonies.

Sprint Planning

A meeting where the team selects work from the backlog and agrees on what can be delivered in the upcoming sprint.

Sprint Velocity

A measure of how much work a team completes in a single sprint, typically expressed in story points or completed items.

Stakeholder Management

The practice of identifying, communicating with, and aligning the people who influence or are affected by product decisions.

Technical Debt

The accumulated cost of shortcuts and workarounds taken during software development that slow down future work.

User Story

A short, plain-language description of a feature told from the perspective of the person who will use it.

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