Requirement

In business analysis, a requirement is one or more of the following:

A condition or capability needed by a stakeholder to solve a problem or achieve an objective;
A condition or capability that must be met of possessed by a deliverable or its component to satisfy a contract, standard, specification, or other formally imposed documents; AND/OR
A documented representation of a condition or capability as in 1) or 2).

Types

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Stated requirement. A requirement articulated by a stakeholder that has not been analyzed, verified, or validated. Stated requirements frequently reflect the desires of a stakeholder rather than the actual need.