Excellent requirements prioritization is essential to any well-run project. It ensures that the project focuses on the most important elements first, and that everyone understands and agrees regarding what the project’s most important elements are. Good prioritization of requirements will also ensure that engineers, programmers and database analysts develop a project’s most critical elements in sync with the business needs.

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Given the economic downturn, "cheaper, better, faster" seems to be a universal mantra in business. To stay competitive, organizations must continually strive to be more agile and develop higher-quality solutions more quickly-despite obstacles such as geographically distributed teams, limited budgets and resources, quick delivery times, language barriers and government regulations. These challenges require teams to consider new ways of doing business so they can be more responsive to frequent business changes.

One area that businesses can optimize is their software development processes. If they want to be competitive, companies don't have the luxury of long development lifecycles. To keep timeframes short, organizations must foster a collaborative environment by making tasks and responsibilities transparent and breaking down silos across the development lifecycle.

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