Product requirements management (PRM): The gathering, documenting, and managing of product requirements. PRM is essential for ensuring that the product meets the needs of its users and that it is developed on time and within budget.
Product Requirements Management
What is Product Requirements Management?
Product requirements management (PRM) is the process of gathering, documenting, prioritizing, analyzing, tracking, and managing the requirements for a product. It is an ongoing process that should start early in the product development lifecycle and continue throughout its lifespan.
Why is Product Requirements Management Important?
Some of the key activities involved in PRM include:
- Gathering requirements: This involves identifying all of the requirements for the product, including functional requirements, non-functional requirements, and user requirements.
- Documenting requirements: Once the requirements have been identified, they must be documented clearly and concisely. This is typically done in a product requirements document (PRD).
- Prioritizing requirements: Not all requirements are created equal. Some requirements are more important than others and should be prioritized accordingly.
- Analyzing requirements: Once the requirements have been prioritized, they need to be analyzed to ensure that they are complete, consistent, and feasible.
- Tracking requirements: As the product develops, the requirements must be tracked to ensure they are implemented correctly.
- Managing changes to requirements: Requirements are likely to change throughout the product development lifecycle. PRM helps to manage changes to requirements in a controlled and orderly manner.
Benefits of Product Requirements Management
PRM offers several benefits, including:
- Improved product quality: PRM helps to ensure that the product meets the needs of its users and stakeholders. This leads to a higher quality product.
- Reduced costs: PRM helps prevent scope creep and rework, leading to significant cost savings.
- Improved communication: PRM helps to improve communication between the product team and stakeholders. This leads to a better understanding of the requirements and a more aligned product.
- Reduced risk: PRM helps to identify and manage risks early in the product development lifecycle. This reduces the risk of project failure.
Product requirements management is an essential process for any organization that develops products. PRM helps to ensure that the product meets the needs of its users and stakeholders, reduces costs, improves communication, and reduces risk.
How to Get Started with Product Requirements Management
If you are new to product requirements management, there are a few things you can do to get started:
- Identify your stakeholders. Who are the people who need to be involved in the product development process? This may include customers, users, business analysts, developers, and testers.
- Gather requirements. What are the needs of your stakeholders? What features and functionality do they need in the product?
- Document the requirements. Once you have gathered the requirements, document them clearly and concisely. This is typically done in a product requirements document (PRD).
- Prioritize the requirements. Not all requirements are created equal. Some requirements are more important than others and should be prioritized accordingly.
- Manage changes to requirements. Requirements are likely to change throughout the product development lifecycle. Develop a process for managing changes to requirements in a controlled and orderly manner.
There are several tools and resources available to help you with product requirements management. You can find more information on the websites of organizations such as the Product Management Association and the International Requirements Engineering Board.