A Model for Value Based Requirement Engineering

,†† Summary Software companies are forced to become increasingly competitive and responsive to consumers as well as market development due to rapid changes in the current world and global competition. It is important for software companies to maximize product value through proper requirement engineering. The purpose of requirement engineering activities is to add business value that is accounted for in terms of return-oninvestment of a software product. This paper introduces some of the fundamental aspects of value from the perspectives of economic theory, discusses a number of the challenges faced by a requirement engineer and finally describes a model to define value from business, product and project perspectives.

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