This Product Requirements template sets forth a detailed description of a company's
product, the business drivers behind the product, and how the product meets particular
customer needs. This document enables the company's business and technical leaders
to mitigate the risk of creating products with no business value. It contains helpful
information and guidance for a company to create an individualized products
requirements document. This document should be utilized by the business, technology,
finance and marketing teams within a product manufacturing company.
Product Requirements Document
[Product Name]
[Product Design Manager Name]
[Product requirements are a detailed description of the product, the business drivers behind the
product, and how the product meets particular customer needs. Creating a Product Requirements
document enables the business and technical leaders within your organization to mitigate the risk
of creating products with no business value. Creation of a Product Requirements document
should be a joint effort between business, technology, finance and marketing teams, to ensure a
complete understanding of the business value of any new product.]
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Business Summary
Introduction to the Business
[The business summary is a summary of your entire business, or organization depending on the
size of your company. This is where a mission can be restated or brief summary of who your
customers are. The value of this section is to focus the team and the reader on why a new
product is required, and how the new product will add value to your company.]
Market Potential/Target Demographics
[This information may initially be anecdotal data, such as “a customer requested this” or “this
would be valued by the customer”. Eventually this section should be quantified with customer
surveys, market research, and other specific data. This section requires a lot of research, and
may be better accomplished by a non-technical person, such as a Consultant, Intern, or Analyst.]
Financial Projections/Pricing
[Financial projections are about how well you know your business, the industry, and the market.
They are extremely important for making financial projections that are designed to attract
investors. They also offer guidance when making decisions about the future outlook for your
business. Start developing your financial projection by:
Breaking your sales down into manageable parts by developing an outline of your products and
services.
The unit price for each item.
Anticipated inventory.
Projected sales for each item.
Use this same method to work out expenses, or to calculate start up costs if you are launching a
new business. The sample on the following page can be used as a template.]
Sample Financial Projection Worksheet
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Sample Financial Projection Worksheet
Beginning Projected
as of: as of:
mm/dd/yyyy mm/dd/yyyy
Assets
Current Assets
Cash in bank $ $
Accounts receivable
Inventory
Prepaid expenses
Other current assets
Total Current Assets $ $
Fixed Assets
Machinery and equipment $ $
Furniture and fixtures
Leasehold improvements
Land and buildings
Other fixed assets
(LESS accumulated depreciation on all fixed
assets)
Total Fixed Assets (net of depreciation) $ $
Other Assets
Intangibles $ $
Deposits
Goodwill
Other
Total Other Assets $ $
Total Assets
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Beginning Projected
as of: as of: mm/dd/yyyy
mm/dd/yyyy
Liabilities and Equity
Current Liabilities
Accounts payable $ $
Interest payable
Taxes payable
Notes, short-term (due within 12 months)
Current part, long-term debt
Other current liabilities
Total Current Liabilities $ $
Long-term Debt
Bank loans payable $ $
Notes payable to stockholders
LESS: Short-term portion
Other long-term debt
Total Long-term Debt $ $
Total Liabilities
Owner’s Equity
Invested capital $ $
Retained earnings - beginning
Retained earnings - current
Total Owner’s Equity
Total Liabilities & Equit