One major reason to use an iterated approach is to provide useful features as soon as possible. That way, our business will benefit sooner, while our project get much needed feedback equally sooner.
I failed at that. Well, I got my feedback, but my business suffer. I am using a vacation planner as my business case. The vacation planner isn't useful unless it can be used to do some level of planning. I didn't start with that. I started with a feature which isn't useful on its own.
There is no point in adding an improvement to a non-existing feature, is it?
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