Understanding and defining business requirements is crucial for multiple reasons:
Alignment: Ensures that all stakeholders have a clear understanding of the project goals. Scope Management: Helps in defining the scope of a project, thus preventing scope creep. Resource Allocation: Facilitates proper allocation of resources such as time, budget, and manpower. Risk Management: Identifies potential risks early in the project life cycle. Quality Assurance: Sets the benchmark for quality and performance metrics.