Scope creep is the gradual, uncontrolled expansion of a project's requirements after work has started, without matching changes to time, budget or resources. It is a common reason projects run late.
A fixed-price contract sets one agreed price for a defined scope of work, so the provider carries the risk if the work takes longer than planned. It works best when requirements are clear, stable and testable before work begins.
A minimum viable product (MVP) is the smallest version of a product that real users can use and that tests the most important assumption about it. It aims to learn quickly with the least effort.
Roadmap prioritisation is the process of deciding which initiatives, features or problems a product team tackles first. Teams weigh value, effort, risk and strategy using explicit criteria.
A statement of work (SOW) is a document that defines one engagement: the work, deliverables, timeline, roles, fees and acceptance terms. It usually sits under a broader master services agreement.
Fixed price and time and materials split risk differently: one agreed price for a defined scope, or billing for the hours and costs actually spent. Under fixed price the provider absorbs overruns; under time and materials the client does.
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