Product Requirements

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					This Product Requirements template sets forth a detailed description of a company's
product, the business drivers behind the product, and how the product meets particular
customer needs. This document enables the company's business and technical leaders
to mitigate the risk of creating products with no business value. It contains helpful
information and guidance for a company to create an individualized products
requirements document. This document should be utilized by the business, technology,
finance and marketing teams within a product manufacturing company.
Product Requirements Document




[Product Name]


[Product Design Manager Name]




[Product requirements are a detailed description of the product, the business drivers behind the
product, and how the product meets particular customer needs. Creating a Product Requirements
document enables the business and technical leaders within your organization to mitigate the risk
of creating products with no business value. Creation of a Product Requirements document
should be a joint effort between business, technology, finance and marketing teams, to ensure a
complete understanding of the business value of any new product.]




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Business Summary
Introduction to the Business
[The business summary is a summary of your entire business, or organization depending on the
size of your company. This is where a mission can be restated or brief summary of who your
customers are. The value of this section is to focus the team and the reader on why a new
product is required, and how the new product will add value to your company.]

Market Potential/Target Demographics
[This information may initially be anecdotal data, such as “a customer requested this” or “this
would be valued by the customer”. Eventually this section should be quantified with customer
surveys, market research, and other specific data. This section requires a lot of research, and
may be better accomplished by a non-technical person, such as a Consultant, Intern, or Analyst.]

Financial Projections/Pricing
[Financial projections are about how well you know your business, the industry, and the market.
They are extremely important for making financial projections that are designed to attract
investors. They also offer guidance when making decisions about the future outlook for your
business. Start developing your financial projection by:

Breaking your sales down into manageable parts by developing an outline of your products and
services.
     The unit price for each item.
     Anticipated inventory.
     Projected sales for each item.

Use this same method to work out expenses, or to calculate start up costs if you are launching a
new business. The sample on the following page can be used as a template.]

Sample Financial Projection Worksheet




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Sample Financial Projection Worksheet
                                                      Beginning    Projected
                                                      as of:       as of:
                                                      mm/dd/yyyy   mm/dd/yyyy
 Assets
 Current Assets
          Cash in bank                                $            $
          Accounts receivable
          Inventory
          Prepaid expenses
          Other current assets
 Total Current Assets                                 $            $

 Fixed Assets
          Machinery and equipment                     $            $
          Furniture and fixtures
          Leasehold improvements
          Land and buildings
          Other fixed assets
        (LESS accumulated depreciation on all fixed
        assets)
 Total Fixed Assets (net of depreciation)             $            $

 Other Assets
          Intangibles                                 $            $
          Deposits
          Goodwill
          Other
 Total Other Assets                                   $            $

 Total Assets




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                                                   Beginning    Projected
                                                   as of:       as of: mm/dd/yyyy
                                                   mm/dd/yyyy
 Liabilities and Equity
 Current Liabilities
        Accounts payable                           $            $
        Interest payable
        Taxes payable
        Notes, short-term (due within 12 months)
        Current part, long-term debt
        Other current liabilities
 Total Current Liabilities                         $            $

 Long-term Debt
        Bank loans payable                         $            $
        Notes payable to stockholders
        LESS: Short-term portion
        Other long-term debt
 Total Long-term Debt                              $            $

 Total Liabilities

 Owner’s Equity
        Invested capital                           $            $
        Retained earnings - beginning
        Retained earnings - current
 Total Owner’s Equity

 Total Liabilities & Equit
				
DOCUMENT INFO
Description: This Product Requirements template sets forth a detailed description of a company's product, the business drivers behind the product, and how the product meets particular customer needs. This document enables the company's business and technical leaders to mitigate the risk of creating products with no business value. It contains helpful information and guidance for a company to create an individualized products requirements document. This document should be utilized by the business, technology, finance and marketing teams within a product manufacturing company.
This document is also part of a package Project Management Starter Kit 18 Documents Included