The smallest set of functionality that must be realized in order for the customer to perceive value. A “MMF” is characterized by the three attributes: minimum, marketable, and feature. A feature is something that is perceived, of itself, as value by the user. “Marketable” means that it provides significant value to the customer; value may include revenue generation, cost savings, competitive differentiation, brand-name projection, or enhanced customer loyalty. A release is a collection of MMFs that can be delivered together within the time frame.

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