According to several recent studies, one of the most common reasons projects fail has to do with poor requirements management. For more information on how poor requirements can lead to project failure, refer to the Info-Tech Advisor research note, “Flawed Requirements Trigger 70% of Project Failure.”
While these studies focus on larger firms, even small enterprises can benefit from attention to their requirements management systems. IT leaders in smaller firms often find themselves multi-tasking and dealing with so many issues that they feel they have no time to invest in the thorough requirements management that larger firms utilize. But in fact, smaller firms can be just as badly hurt, if not more so, when they end up with a product that the client does not want or that doesn't perform as expected.