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In this lesson, Subject Matter Expert (SME) Kelly Handerhan discusses the importance of understanding a project's requirements. Incorrect and/or poorly understood requirements are the primary cause of project failure, according to the Project Management Institute (PMI). Every project needs well-defined requirements to build a well-defined scope of work statement and to obtain sign-off from the user. You will learn about: - correct stakeholder identification and documentation - developing a strategy for stakeholder communication - developing and using a stakeholder register Handerhan explains: - ways to resolve conflicting requirements - best practices for leveraging historical information - how to use a collection of templates and forms to ensure the necessary standardization and well-defined, repeatable methodologies - the importance of a scope statement built from the requirements You will learn: - the steps needed to obtain an effective set of requirements early on - the important skills needed for effective requirements management - how to mitigate the negative effects that poor requirements management has on projects and the resulting financial waste SMART requirements are Specific, Measurable, Attainable, Realistic, and Timely