What does the term 'Product Scope' refer to?

The term 'Product Scope' refers to the specific features and functions of the product or service that is being developed or delivered through the project. This encompasses all the requirements and characteristics that define how the product will meet the needs of stakeholders and fulfill its intended purpose. Understanding product scope is critical in project management, as it lays the groundwork for what should be included in the project's deliverables.

Focusing on the product scope ensures that the project team knows exactly what to build or deliver, thereby aiding in clearer communication with stakeholders and minimizing confusion during development. This clarity helps prevent scope creep, which is when additional features or functions are added that may not have been part of the original plan, potentially leading to project delays or budget overruns.

The other options pertain to different aspects of project management but are not specific to the product features and functions. The timeline relates to when the project will be completed, the budget concerns the financial resources allocated, and team structure refers to the organization of the project team. Understanding these distinctions is vital in comprehensively managing a project.