IT requirements management is relatively established in the technology sector. If what features the intended software is to include and which processes it is supposed to support are not precisely defined at the start of IT projects, problems later in the project will be inevitable. Time and resource planning are not realistic without these preparations, and there is a big chance that customers will prolong the project and exceed the budget with a bunch of change requests. If change requests aren’t then properly managed, this pushes up costs even higher.
However, requirements management is important and worthwhile regardless of the sector. Especially in extensive projects with complex products, it ensures that efficiency remains at a high level throughout the project and that errors as well as disagreements between project partners are avoided. A requirements engineer can recognize problems resulting from altered customer wishes at an early stage and define measures to minimize any negative effects.
Even if higher costs are incurred to customers due to the more thorough documentation of requirements at the beginning of the project, customer satisfaction benefits from a structured requirements management process.
Nonetheless, the importance of defining and managing requirements for the success of a project is often underestimated by companies – even in the case of technology projects where IT requirements management is common. Otherwise, it would be hard to explain why 52 percent of all IT projects according to the CHAOS study of the Standish Group blow the defined budget and schedule. Only 55 percent of respondents felt that requirements management was important or very important. The rest only attached moderate or low importance to requirements management for the success of projects. This is a mistake with serious consequences – as shown by the number of projects completed according to plan.