Product Ownership and Iterative Software Development

Iterative or rapid software development means you know exactly what you want, you have defined it extremely well, and are disciplined enough to pick from those specs what should be built in the first, small, iteration. It doesn't mean that you can get away with waiting to see if what you get is what you might like, or poorly describing what you want, or starting anywhere without a strategic plan for how you are going to move through the project.

Iterative or rapid software development isn't an excuse for relaxed product ownership, on the contrary, the exact opposite is true. Things happen so fast you had better be on your game or you will quickly spiral out of control and write off your investment to date.