How can you effectively manage requirements?

Requirement management is linked to time management. Just like you have to track and maintain a record of all the activities for managing time, in the same manner you have to keep a track on the requirements, prioritize them and track the changes made in the requirements. There are various ways by which you can effectively manage requirements.

• Prioritizing requirements– The first thing that you need for effective requirement management is to know which requirement deserves first priority. This is essential for determining their implementation order. It can be done by considering the costs, benefits, and the risks associated with requirement implementation.
• Preparing requirement package-Requirement package is the requirements that are documented and has been organized in such a manner so that it can be used and accessed by various sponsors. Requirement management stipulates that all the stakeholders should be kept informed on all the changes made in requirements.
• Review requirement sessions– These sessions are held to guarantee that partners comprehend the necessities and that any uncertainties, irregularities and oversights are recognized and routed to encourage approval of requirement management. The requirements have to be complete, correct and feasible before its approval.
• Standardizing the requirements– Post approval, the requirements have to be standardized and the request for change has to be presented to a recognized authority and has to be approved by the same.
• Conducting impact investigation- Implementing change requirements have to be done after analyzing the full consequence. Change requests do not always lead to requirements; therefore, a careful analysis of all the changes has to be done.
• Trace the requirements– Tracking or Traceability ensures that impacts has been analyzed when change requests are made. Requirements are related to other code units, business objectives, test cases, business rules etc. and the requirements have to be carefully managed for maintaining links between various elements.
• Versioning the requirements– Versioning means maintaining records of all the change requirements so that all the reasons for their implementation can be justified and assessed. It also means that everyone should work on the same versions especially when they are operating from different locations.
• Using RM tools– The best way by which requirements can be managed is by using requirement management tools. These tools are capable minimizing the aggravations of labor-intensive involvement and condense the load of handling requirements.
• Maintaining requirements-This is the last step and includes storing information on requirements management so that it can be used by different stakeholders from different locations.