A cost-value approach for prioritizing requirements

Developing software systems that meet stakeholders' needs and expectations is the ultimate goal of any software provider seeking a competitive edge. To achieve this, you must effectively and accurately manage your stakeholders' system requirements: the features, functions, and attributes they need in their software system. Once you agree on these requirements, you can use them as a focal point for the development process and produce a software system that meets the expectations of both customers and users. However, in real world software development, there are usually more requirements than you can implement given stakeholders' time and resource constraints. Thus, project managers face a dilemma: how do you select a subset of the customers' requirements and still produce a system that meets their needs? The authors developed a cost-value approach for prioritizing requirements and applied it to two commercial projects.