Requirements elicitation is the practice of researching and discovering the user and business needs to solve a problem or create an improvement. It often involves interviews, surveys, shadowing, use cases, and user scenarios. It is essential for a project manager to ensure that the requirements gathered are transparent, thorough, and according to stakeholder's expectations. Requirements elicitation can help to prevent significant challenges later in the project lifecycle by ensuring that all necessary information is gathered at an early stage.

Requirements analysis involves examining project needs, refining gathered requirements and choosing the best-fit solutions. It is a critical stage in requirements management since it helps to ensure that the requirements meet certain quality characteristics such as clarity, coherence, completeness, and feasibility. Moreover, it helps to prioritize the requirements based on business or user value, estimate the resources or time needed to implement them and mitigate risks associated.

Requirements specification is the step where requirements are documented and delivered to stakeholders. This process includes comprehensive documentation of requirements in sufficient detail to enable system design, development and test activities to proceed. In addition, the requirements specification should be easy to update. It is an essential piece for transparency and communication with both the team members and stakeholders. Requirements can then be traced back to this document throughout the project lifecycle.

Requirements validation ensures that the specified requirements are the right requirements. During this phase, requirements are cross-checked against some specific criteria such as testability, consistency, clarity, and relevancy. This process helps to prevent any miscommunication or misunderstanding and guarantees that the stated requirements are accurate, consistent and adequately represent the needs of the stakeholders. Moreover, it helps to avoid the risks of project failure due to incorrect, missing, ambiguous or impossible requirements.

Requirements management is the process of documenting, analyzing, tracing, prioritizing, and agreeing on requirements and then controlling changes and communicating to relevant stakeholders. It is the continuous process of developing requirements, from the inception of the project until its termination. Requirements management provides a structure for communication between project stakeholders, enabling the creation of well-defined and measurable goals that are crucial for successful project delivery.

This refers to the tracking process of requirements through the project life cycle. It helps to keep an account of how each requirement evolves, is examined for feasibility, implemented, and, eventually, tested. It enables project teams to confirm if the solution proposed is meeting the intended requirement or not. Tracing also assists in identifying requirements that have been removed from the scope or are yet to be fulfilled. It aids in maintaining a clear log of requirement evolution, ultimately supporting the management of requirement changes effectively and also helps in the impact analysis. Requirement tracing is often performed using traceability matrix.

This concept is about the process of determining the order of importance of the detailed features, functions, and capabilities specified as project requirements. Prioritization is essential because not all aspects are equally important or urgent, and some may be dependent on others. It helps in defining the sequence of works and controlling project costs and time. Requirements' prioritization utilizes several techniques, including MoSCow method, Ranking, Voting, and Decision Matrix. This process aids in managing stakeholder expectations and ensures that the most essential requirements are focused upon.

This refers to the recording and organization of the collected requirements in a manner that establishes a clear and accurate representation of the expected project outcome. This distinct and concise documentation ensures that all stakeholders have a shared and uniform understanding of the requirements. The documents may include Business Requirements Document (BRD), Functional Requirement Specification (FRS), Use Cases, User Stories, and System Requirement Specification (SRS). Good documentation lessens the chances of requirement misinterpretations.

This is the process of involving all stakeholders in discussing the identified requirements, resolving any possible ambiguity, and ensuring a shared comprehension of project needs and expectations. It is essential in building consensus, ensuring alignment between stakeholders, and reducing misunderstanding. Various channels like meetings, emails, memos, and collaborative software can be used to facilitate effective communication. A clear, consistent, and regular communication can help in managing changes and keeping everyone updated.

This is a structured approach that deals with the alteration or evolution of project requirements throughout the project lifecycle. Changes could stem from varying sources like alterations in business strategies, changes in market dynamics, or unpredicted issues. The process consists of steps like identifying changes, evaluating their expected impact, validating the changes, and finally, implementing approved changes efficiently. This ensures that the project stays on track, maintaining its alignment with evolving business needs, and ensuring that the end product is still relevant to the defined goals.