The design and development of products are being transformed by the Internet of Things (IoT), which is revolutionizing not only their functionality but also their complexity. With additional software and lines of code, products are becoming more intricate, allowing for greater connectivity. However, requirements management can help overcome the complexity and interdependencies that exist in modern engineering lifecycles. It streamlines product development and speeds up deployment.
Inadequately defined requirements are frequently cited as significant reasons for project failures. Scope creep, project delays, cost overruns, and subpar product quality that fails to meet customer needs and safety requirements are all possible outcomes of insufficiently defined requirements.
To ensure project success, having a requirements management plan is crucial. Such a plan allows engineering teams to control the scope and manage the product development lifecycle effectively. Requirements management software provides the necessary tools to execute the plan, resulting in reduced costs, faster time to market, and improved quality control.