Without a doubt, one of the most fundamental and important steps a product team can take is detailing out clear requirements for the manufacturing process. Having a comprehensive requirements specification sheet allows your CM partner to move forward and do what they do best - get products built on time and on budget. So while there are benefits of creating quality requirements, there are consequences of creating poor ones. Whether in manufacturing, engineering, product development, or software development, these consequences can be grave, appearing in all downstream activities, including architecture, design, implementation, and testing.
Having poor requirements can add thousands of dollars in costs and resources, increase development and sustainment costs, and often cause major schedule overruns.
These findings show how serious the problem of poor requirements can be:
- Approximately 50% of product defects originate in the requirements.
- 80% of rework can be traced to requirements defects.
- According to one report on the impact of business requirements, companies wil spend over 41.5% of their new project development resources on unnecssary or poorly specified requirements.
- Poor software requirements can create further technical problems resulting in poor customer responsiveness, long delivery times, late deliveries, defects, rising develoment costs, and poor performing teams.
- Despite these statistics, 70% of organizations still do not take effective action to adequately improve their requirements quality.
In this special series, we'll further explore the critical business component of requirements specification, examining the reasons requirements go south, and what developers, product managers, and business leaders can do to ensure they do not become one of the statistics noted above.
By following this series and downloading Tecnova's Requirements Specification Template, businesses can better collect, store, and update quality requirements, saving themselves thousands each year. You'll see why it's a step no business can afford to miss.
