MoSCoW prioritization is an effective prioritization method for teams who would like to include representatives from the whole organization in their process. Capture a broader perspective by including participants from various functional departments.
Another reason you may want to use MoSCoW prioritization is it allows your team to determine how much effort goes into each category. Therefore, you can ensure that you’re delivering a good variety of initiatives each release.
While in its initial iteration, the MoSCoW method was intended for time-boxed projects only, it can be modified and made effective beyond the scope of simple release planning.