The INVEST mnemonic for Agile software development projects was created by Bill Wake[1] as a reminder of the characteristics of a good quality Product Backlog Item (commonly written in user story format, but not required to be) or PBI for short. Such PBIs may be used in a Scrum backlog, Kanban board or XP project.

Table info: Letter, Meaning, Description...
Letter Meaning Description
I Independent The PBI should be self-contained.
N Negotiable PBIs are not explicit contracts and should leave space for discussion.
V Valuable A PBI must deliver value to the stakeholders.
E Estimable You must always be able to estimate the size of a PBI.
S Small PBIs should not be so big as to become impossible to plan/task/prioritize within a level of accuracy.
T Testable The PBI or its related description must provide the necessary information to make test development possible.
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