Requirements management (sometimes called requirements engineering or requirements definition) is among the first steps of a Product Lifecycle Management process. It's how companies take raw ideas into more detailed requirements. Requirements management involves documenting, analyzing, prioritizing, and visualizing what stakeholders want from your products and services. Requirements management also typically includes change management for requirements, requirements traceability, collaboration with relevant stakeholders, and approvals of requirements.
Benefits of Requirements Management
Companies who excel in requirements management can expect the following benefits:
- Higher customer satisfaction
- Greater market share
- Faster time to market
- Less rework
- Higher product quality
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