I’ve shared this document more than any other template I’ve ever created. It’s call the Product Initiative Summary. The goal is to get the core details of a product initiative onto a single page so that everyone (developers, designers, stakeholders, sales, marketing, etc.) can have the most important info available in a single place.

Anatomy of the document:

Initiative Name — the title the company will use to refer to the product initiative
Goals — the desired outcomes of the initiative and how are they related to company objectives
Customer/User Groups impacted — the segment will this initiative serve, quantify when possible
Current Issue / Situation — the problems you want to solve
Proposed Solution — the current idea you have about how to solve the problem (it is open to discussion and change)
Prioritization Reason — the thought process behind choosing to invest in this initiative over other options
KPIs — the metrics you’ll monitor to know if the initiative is a success
Milestones / Roll-out Plan — the high level outline of who will get access to the parts or all of the solution and when.
Screenshots / Mockups — the visual representation of the initiative which could be a wireframe, a clickable prototype, a system diagram, or a user flow

Please note that all portions of the document may not be ready at the outset of a project, but hopefully they are all filled in before the Kickoff meeting for the initiative. Also, this document is 100% designed to be edited post-kickoff as you and the team learn new things throughout the development and launch process. Therefore share and save it in a way that you are sharing a link to the document instead of a hard copy… and keep sharing the link as things advance and more stakeholders get involved.