Crypto Glossary: Roadmap
Definition: A roadmap is a strategic plan that outlines the goal or desired outcome, along with the major steps or milestones necessary to achieve that goal. It serves as a high-level document that communicates the strategic thinking behind a goal and the plan to reach it. In the context of the cryptocurrency and blockchain industry, a roadmap often pertains to the development and implementation of a specific cryptocurrency project or blockchain technology.
Key Concepts and Terminology:
- Vision and Strategy: A roadmap describes the vision and strategy behind a product or project, outlining the “why” and “what” of what is being developed. It provides a clear direction for the initiative.
- Guiding Document: It serves as a guiding document for executing the strategy, ensuring that the development team and stakeholders are aligned in their efforts.
- Alignment of Stakeholders: Roadmaps help get internal stakeholders in alignment by providing a shared understanding of the project’s goals and milestones.
- Discussion and Planning: Roadmaps facilitate discussions among team members and stakeholders and allow for options and scenario planning, helping to address challenges and uncertainties.
- Communication: They also play a crucial role in communicating the project’s progress and direction to external stakeholders, including customers, investors, and the community.
- Components: A typical roadmap includes various components such as themes, epics, stories, and features, which represent different levels of granularity in describing the project’s development.
- Timeframe: Roadmaps often include an estimated timeframe for achieving each milestone, providing a timeline for the project’s progress.
- Mission and Aim: In addition to outlining the vision, roadmaps may describe the project’s mission, aims, and objectives, offering a comprehensive view of the project’s purpose.