What are business requirements?

Business requirements refer to the high-level needs and objectives of an organization that define what the business aims to achieve through a project or initiative. They provide a comprehensive understanding of the goals that must be met and what the stakeholders expect from a solution. Business requirements are crucial as they guide the development and implementation of solutions to ensure they align with the organization's strategic objectives.

The essence of defining business requirements lies in identifying the core problems that need solving or improvements that need to be made, which ultimately leads to the success of business initiatives. This understanding facilitates stakeholder engagement and helps in aligning the project goals with the broader organizational strategy.

While detailed specifications for a solution may contribute to understanding how to fulfill business requirements, they do not encapsulate what those requirements are. Risks associated with a project focus on potential issues that might arise during execution, rather than the goals themselves. Similarly, contractual obligations of stakeholders pertain to the commitments each party has to one another, which, while important, do not define what the business seeks to accomplish.