Long-Range Planning with User Stories

I frequently hear or read people suggesting using User Stories for relatively long-range planning. Sometimes they mean something as short as a release in a few months. Sometimes they’re talking about multiple releases over a year or two. In all of these cases, they’re talking about breaking down the work to be done into small slices so that they can better measure it’s perceived size for predicting the future.

What are the implications for doing this? (Continued)