When people talk about requirement management tools sometimes it is misinterpreted within the software development. The absence of a proper definition of requirements has been the cause of project failures in the past. Though most IT practitioners intellectually understand the value of developing and maintaining clear and detailed requirements all through the product life cycle, achieving the same can seem complex.

1. Importance of Requirements Management Tools
When people talk about requirement management tools sometimes it is misinterpreted within the software
development. The absence of a proper definition of requirements has been the cause of project failures in the
past. Though most IT practitioners intellectually understand the value of developing and maintaining clear and
detailed requirements all through the product life cycle, achieving the same can seem complex.
Requirement management tools have always been essential and today its value is being given added emphasis in
the software projects. This is because businesses have come to depend more on the software development life
cycle for carrying on business and critical mission functions. Reworks are most accountable for 40 percent of
enterprises total expenditure- i.e. the time and money that enterprises cannot afford in today’s highly competitive
platform. Most of these rework attempts emphasize on requirements management data that can cost more than
200 times as much as defects that are corrected close to the point of creation.
The formal requirements management process elicits stakeholder requirements, captures and communicates
requirements to every team member, organizes and prioritizes requirements and also manages the changes to
requirements all through the project life cycle. Formal requirements management and definitions are employed in
numerous technical disciplines to a greater extent that has been in evidence in the IT arena.
Today service providers specializing in agile methodology has come up requirements management web –based
application that is optimized for projects that works disseminated between building on your campus as well as on
sites round the globe. All the features comprising administrative and configuration processes, are assisted over the
web. The application enables the following:
 Efficient telecommuting
 Efficient management and control of the offshore projects
 Better collaboration with multiple internal functional groups
 Improved collaboration with service partners
Advanced requirement management tools offer a configurable and a rich global platform for tracking a suite of
requirements, tracing implementation back to the specs. Project objectives and deliverables are shared by various
team members in order to collaborate on monitoring requirements globally as well as locally. The tool makes sure
that all the developers are operating from the same playbook regardless of their location and that there is no
expensive last minute surprises, irrespective of the project being developed in the office next door or by an
offshore partner located miles away. Furthermore, the result is a high quality application that caters to what the
end user required and companies with every external and internal requirement.
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