The Product Requirements Document (PRD) outlines the functional requirements that the technology must have to be successful. Unlike the market requirements which is a list of what the product should do, the product requirements determines how the market requirements will be realized. The PRD must be agreed upon and signed-off on by all internal stakeholders at release and when changes are made; this ensures that the development team is aware of changes in scope and helps to prevent ‘feature creep’. These requirements should reflect the needs of the user, as outlined in the market requirements document, and the capabilities and expectations of the company. As the technology solution matures, the PRD will become more complete and descriptive.
Commercialization Process: Product Requirements
How this Milestone Reduces Project Risk
The PRD is the go-to document for guiding and informing technology development teams and activities. While the goal is to document critical technology performance requirements, care should be taken not to dictate the methods of achieving the requirements.
What to consider at this time
Ensure that all stakeholders have approved the PRD. They must also sign off when changes are made.
Ready to start?
In this Product Requirements module, you will learn how to:
- Translate knowledge gained through customer discovery and included in the Market Requirements Document (MRD) into physical characteristics of the product.
- Generate an initial timeline for product release.
- Create a document for internal and stakeholder reference throughout product development.
In a world of constant technological progress, the drive for valuable data is expanding and evolving at a fast pace.
Use TREAT’s guide to understand the value and best practices of data use, collection, and protection that should be taken into consideration during the development of product requirements.