A Value-Based Approach in Requirements Engineering: Explaining Some of the Fundamental Concepts

Today's rapid changes and global competition forces software companies to become increasingly competitive and responsive to consumers and market developments. The purpose of requirements engineering activities is to add business value that is accounted for in terms of return-on-investment of a software product. This article introduces some of the fundamental aspects of value by borrowing theories from economic theory, discusses a number of the challenges that face requirements engineers and finally provides a model that illustrates value from business, product and project perspectives.

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