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The stakeholders use the cost-value diagram as a conceptual map for analyzing and discussing the candidate requirements. Now software managers prioritize the requirements and decide which will be implemented. Now, the cost-value approach and the prioritizing of requirements in general can be placed in its context of Software product management ...
The MoSCoW method is a prioritization technique used in management, business analysis, project management, and software development to reach a common understanding with stakeholders on the importance they place on the delivery of each requirement; it is also known as MoSCoW prioritization or MoSCoW analysis.
Requirements management is the process of documenting, analyzing, tracing, prioritizing and agreeing on requirements and then controlling change and communicating to relevant stakeholders. It is a continuous process throughout a project. A requirement is a capability to which a project outcome (product or service) should conform.
Performance is a product's primary operating characteristics. For example, for a vehicle audio system, those characteristics include sound quality, surround sound, and Wi-Fi connectivity. Conformance refers to the degree to which a certain product meets the customer's expectations. Special features or extras are additional features of a product ...
In systems engineering and software engineering, requirements analysis focuses on the tasks that determine the needs or conditions to meet the new or altered product or project, taking account of the possibly conflicting requirements of the various stakeholders, analyzing, documenting, validating, and managing software or system requirements.
Effective alignment helps all parts of the organization move in the same direction. Determining the impact of business goals and strategies is crucial for effective decision making within a company. Different goals and strategies exist at different levels of an organization (e.g., on the management level, the department level, the project level).
The PBS is identical in format to the work breakdown structure (WBS), but is a separate entity and is used at a different step in the planning process. The PBS precedes the WBS and focuses on cataloguing all the desired outputs (products) needed to achieve the goal of the project.
Hence the need for product management as a core business function in software companies. Hardware and physical product companies may also need software product management, since software and digital systems are often part of the delivery, such as when providing operating systems, or supporting the physical product or software embedded in a device.