V&S Template

1.5. Value Provided to Customers (Michel)

1.3 Business Objectives and Success Criteria

1.4. Customer or Market Requirements

Business Risks

Anahi 1.2 Business Opportunity

Describe the value the customers will receive from this product and indicate how the product would lead to improved customer satisfaction.

For Example:
• Cost savings
• Improved productivity or reduced rework
• Streamlined business processes
• Automation of previously manual tasks
• Conformance to current standards or regulations
• Ability to perform entirely new tasks or functions
• Improved usability or reduced frustration level compared to current applications and so on

  • Describe the market opportunity that exists or the business problem that is being solved.

Summarize the major business risks associated with developing this product. Estimate the severity of the risks and identify any risk mitigation actions that could be taken

For example:
Marketplace competition
Timing issues
User acceptance
Implementation issues
Possible negative impacts on the business.

1.1 Background

Needs of typical customers:

  • Variety of needs
  • Not fully met by current marketplace

Describe the important business objectives of the product in a way that is quantitative and measurable.

Revenue: The product is expected to generate $10 million in revenue in its first year of release.

Cost savings: The product is expected to save the company $5 million in costs in its first year of release.

Return on investment (ROI): The product is expected to have a ROI of 200% in its first year of release.

Target release date: The product is scheduled to be released on January 1, 2024.

Problems customers curently encounter:

  • Specific problems
  • New product aims to address

Identify the problems that cannot currently be solved without the product.

Customer hardware and software enviroment

  • Specific enviroment for product operation

Involves understanding the target market, evaluating existing solutions, and presenting the unique advantages and value proposition of the proposed product.

Provide a general description of the history or situation that leads to the recognition that this product should be built

Provide the foundation and reference for all detailed requirements development

Describe the needs of typical customers, including those that are not currently fulfilled by the marketplace or existing systems.

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Determine how success will be defined and measured on this project, and describe the factors that are likely to have the greatest impact on achieving that success.

The quality of the product

The marketing and sales efforts

The competitive landscape

The economic climate