Business Requirements: How to Create a Business Requirements Document (Free Template)

Tom: “I need a new warm, down jacket for my next trip.”

Me: “Great, I would opt for Patagonia or Arcteryx.”

Why did I recommend these brands to Tom and these brands only?

It is due to brand trust. I know these brands deliver exactly what I want consistently.

As consumers, Tom and I are Patagonia and Arcteryx stakeholders. We have expectations these two outdoor brands need to satisfy to retain our custom. These expectations translate into requirements. In this scenario, our requirements were:

Value for money Robust, long-lasting products Functional products Products that deliver on their intention

Patagonia and Arcteryx meet the business requirements for their products, satisfying stakeholder and business needs. And so the brands thrive with a good reputation, brand identity, leading to a healthy bottom-line and company success.

Defining the business requirements of a new product, project, system, service, or software is vital. Without defined requirements, there is an absence of clear goals, focus, and progression measures. This doesn’t bode well for success.

For instance, a study by Pulse of the Profession reported 37% of software projects failed due to poorly defined requirements.

Because we don’t want you to fail, in this Process Street article we explain exactly what business requirements are and how you can identify them for your business or line of work. We explain the benefits that come from correctly defining business requirements. We then clarify how you can document business requirements in a Business Requirements Document using Process Street’s Business Requirements Template.

Sounds like the article you need to read to succeed…right?

As such, let’s jump to it. Click on the relevant subheaders below to hop-across to that section. Alternatively, scroll down to read all we have to say:

Business Requirements Template What are business requirements, and why you should care How to create a Business Requirements Document Manage change appropriately via a change management model New to Process Street? A quick tour to help you get started

Correctly defining the business requirements for your organization or line of work starts here. Keep reading and learn how to consistently meet the needs of your stakeholders.


Business Requirements Template

To kick off this article, I present you with Process Street’s free Business Requirements Template. Use this template to identify key stakeholder needs that must be met in your new project, product, service, system, or software.

By using this template, you will:

Gain stakeholder agreement for the new product/service or project, Communicate needed solutions that satisfy customer and business needs, Provide the required input to introduce the changes necessary, Describe what and how the customer/business needs will be met by your introduced changes.

Click here to access our Business Requirements Template!

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What are business requirements, and why you should care

Business requirements are critical activities an organization must perform to meet stakeholder needs and organizational objectives. Business requirements are set and documented in a Business Requirements Document (BRD).

When setting business requirements – also termed as Stakeholder Requirement Specifications (StRS) – a business

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