The MoSCoW feature prioritization method is implemented by categorizing features into four categories: Must have, Should have, Could have, and Won't have. 'Must have' features are critical for the project's success and cannot be compromised. 'Should have' features are important but not vital, and their absence won't affect the project's success. 'Could have' features are desirable but not necessary, and 'Won't have' features are least-critical or not appropriate at the current time. This method helps in prioritizing features based on their importance and impact on the project's success.
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