#1 Cloud-Based Requirements Management Software

Requirements Management – Definition & Challenges

Definition of Requirements Management

Requirements” are desired characteristics of a product (or service) being developed. They are usually in the form of a formal statement of a function to be performed, or an attribute to be possessed by the product (or service).

Product Management, Product Marketing, Engineering, Project Management and related teams usually get these “requirements” in the form of enhancement requests, feature requests, product feedback and data from:

  • External stakeholders – such as customers and partners
  • Internal stakeholders – such as sales and support teams in their organization
  • Their own market research, user research, and competitive research

Requirements Management” refers to the collection of activities undertaken by the product managers, project managers, business analysts, engineering leads, et al in order to gather, store, track, prioritize and implement requirements.

Challenges in Requirements Management

Requirements management is one of the most important roles that is critical to product success, as illustrated by the two studies quoted below.

CIO Magazine

Analysts report that as many as 71% of software projects that fail do so because of poor requirements management, making it the single biggest reason for project failure – bigger than bad technology, missed deadlines or change management fiascoes.

Standish Report​

The Standish CHAOS Report, which surveyed 9,236 IT projects, found that the top three causes of project failure were lack of user inputincomplete requirements or changing requirements.

Why Use Requirements Tracking Tools and Requirements Management Systems?

Can requirements tracking tools help your team? Should you even consider them? Here’s what Gartner says:

“Requirements management can be simplified if initial requirements definitions are captured in a database-based tool to enable collaborative review… traceability and versioning/change control”

– Matt Light, Research Director, Gartner

Discover the powerful features you get from Accompa’s requirements software, the 4 key benefits you can enjoy, the reasons why you should choose Accompa, and how companies get 17x ROI from Accompa.

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