Product requirements management (PRM) is crucial in new product development (NPD).
Initially, PRM needs to lay out the objectives to later confirm the outcome of a project with the stakeholders. This can be done in the form of a product requirements document (PRD) or with a suitable software tool.
Moreover, the on-going implementations need to be overseen and the stakeholder kept informed on their status.
As change management matters a great deal in requirement management the set requirements are ideally traceable to reevaluate their priorities and purpose at any time of the development process.