Amazing products are built by amazing teams, and the most successful teams have a clear, cohesive plan. The product requirements document (PRD) is the single source of truth for the key aspects of your product.
It's the guide that defines what the team is building, who they are building it for, why it matters from a value perspective, and how the team plans on releasing the product into the market. Intended to be a living and breathing document, the PRD is the centerpiece for storytelling and communications, both internally and externally.
Our product requirements document template was created in partnership with Mike Edmonds, chief experience officer at Moonshot by Pactera EDGE, to help product teams make their PRDs more visual and collaborative.
A product requirements document, or PRD, is a document that outlines the requirements for a product or service. A PRD typically includes:
It is important to create a product requirements document because it helps to ensure alignment between different stakeholders on the product team.
PRDs typically include a high-level overview of the product, as well as detailed information on requirements, such as user flows, functional specifications, and UI/UX design. Product managers should regularly review and update product requirements to ensure that they remain relevant and achievable. By doing so, they can help to ensure that the product meets the ever-changing needs of the customer.
Without a common framework for understanding the product, it can be difficult to make progress towards the same goal. A PRD can also help to prevent scope creep by clearly defining what is out of scope for the product. Ultimately, a well-crafted product requirements document is essential for ensuring that everyone on the team is on the same page and working towards the same goal.
Product requirements help to guide the development of a product and ensure that it meets the needs of the customer. PRDs are typically created by product managers and then shared with the engineering team. They should be aligned with the overall product strategy and provide a framework for development.
What are the steps to create a product requirements document?
The first step in creating a PRD is to define the problem that the product will solve. This may seem like a simple task, but it is important to be as specific as possible. For example, if you are creating a new software application, you should clearly state what problem the application will solve for users. This will help to guide the development of the product and ensure that it meets the needs of users.
The next step is to research the market and sketch out your primary and secondary user personas. This includes understanding the needs of potential customers and understanding what similar products are available. This research will help to inform the development of the product and ensure that it is competitive in the marketplace.
Clearly outline the success metrics associated with your product, your goals, and the value proposition. This section is important both in telling your story internally as well as externally.
After researching the market and defining your value proposition, you should outline the features of the product. This includes both essential features and non-essential features. Essential features are those that are required for the product to function properly. Non-essential features are those that would be nice to have but are not necessary for the product to function properly.