HKSM

A concise, high-level statement that sets expectations for the product: who the market and users are, the primary value and outcomes it will deliver, and the distinctive qualities that set it apart from alternatives.

Key Points

• Brief and future-focused; describes desired outcomes and value, not detailed features or plans.
• Identifies target market and user segments, key benefits, and what differentiates the product from competitors.
• Aligns stakeholders and guides product decisions such as prioritization, scope, and trade-offs.
• Should be clear and testable through success criteria, and updated as new insights emerge.

Example

Telehealth platform vision: "Enable busy working parents to access same-day pediatric care via secure video visits, reducing missed work and ER visits by 30% within 12 months, differentiated by insurer integration and AI-driven triage that cuts wait times." This guides backlog items toward access, integration, and triage features first.

PMP Example Question

A sponsor asks for a single artifact that describes intended customers, key benefits, and competitive differentiation to align stakeholders before backlog refinement. What should the team produce?

1. A vision statement
2. A release plan
3. A sprint backlog
4. A work breakdown structure (WBS)

Correct Answer: A — A vision statement

Explanation: A vision statement captures target users, expected benefits, and differentiation at a high level, providing alignment without detailing schedule, tasks, or budget.