Benefits of Requirement Management Tools
Simply put, the term “requirements management” refers to a set of activities that are undertaken by product
managers, business analysts, project managers, engineering leads and others to store, collect, prioritize, track and
execute requirements. According to the CIO Magazine analyst report, approximately 71 per cent of software projects
that does not succeed are because of poor requirement management. This is one single and big reason for the
project to fail, than other issues such as missed deadlines, improper technologies and change management disasters.
There are numerous benefits that one can attain by properly making use of requirement management tools. From a
high level business perspective it lines up with almost every business strategies such as:-
Minimization in costs
Minimization in time to market of products
Maximized levels of customer satisfaction
With an aptly used requirements management tool that is supported by a strong process and able participants,
enhancements can be attained across the board.
Today leading service providers in application lifecycle management has come up with efficient requirement
management tools. It can be best described as an “anytime anywhere requirements” management, gathering and
analysis application. The solution helps the team members to share project objectives and deliverables. They
collaborate on handling requirements concerns round the globe. The solution with its rich implementation of
requirements gathering, management, parsing, base lining, traceability and intelligent reporting in a process
oriented methodology, helps the project teams to efficiently map and manage requirements. This further helps to
create a feature rich product.
Advanced requirement management tools are 100 percent web based. It is optimized for project work that is
disseminated between buildings on your campus or other sites round the globe. With all its features and functions it
Telecommuters work more effectively
Better management and control of offshore projects
Better collaboration with different internal functional groups
Better collaboration with service partners
New age requirements management solutions offer a rich and configurable global environment for attaining a suite
of requirements, collaborating on development and trace implementation back to specs. Furthermore, these tools
also make sure that almost every developer is working from one playbook, irrespective of their location. It also
ensures that there are no last minute expensive hassles, regardless of the project being developed by the next door
office or by an offshore partner located 10 time zones away. The ultimate outcome of this solution is a high end
quality application that matches what the user is aiming at and fulfills every internal and external requirement.
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