Requirements Risk Management for Better Engineering Projects

Requirements management is a critical aspect of risk management, particularly in hardware development projects. Effective requirements risk management can help identify and mitigate project risks early in the development process, reducing the likelihood of costly delays or failures down the line.
But managing requirements can be a complex and challenging task, particularly as projects grow in scope and complexity.
This is where project management and engineering tools like Valispace come in, providing project teams with the tools they need to effectively manage requirements and minimize risk.

Types of requirements

In hardware development, requirements can be broadly divided into two categories:

  • functional
  • non-functional

Functional requirements specify what a system or product should do, while non-functional requirements specify how well it should do it.
Both types of requirements are important for risk management, as they help project teams identify potential issues and areas of concern. For example, a functional requirement to support a certain weight may reveal a potential risk in the design of a mechanical component, while a non-functional requirement for high reliability may highlight a risk in the choice of materials or manufacturing processes.

Requirements management process

The requirements management process is a critical part of risk management, as it helps project teams identify, document, and track requirements throughout the development process.

This process typically includes several stages, including:

  • Elicitation
  • Analysis
  • Documentation
  • Traceability

During the elicitation stage, project teams work with stakeholders to identify and gather requirements. In the analysis stage, requirements are evaluated for feasibility and potential risks. During the documentation stage, requirements are recorded and tracked in a requirements management tool like Valispace. Finally, traceability is used to ensure that all requirements are met and that any changes to requirements are tracked and communicated to the project team.

Best Tools for Requirements & Risk Management

There are a variety of tools available for requirements management, including traditional document-based methods and more advanced software tools. While traditional methods like spreadsheets and word processors can be useful for small projects, they can quickly become unwieldy as projects grow in complexity.

On the other hand, advanced software tools like Valispace offer a range of features and capabilities that can help streamline the requirements management process and minimize risk.

Here’s a list of 5 of the best requirements management tools on the market:


Valispace is a software tool designed for requirements management in engineering projects. It allows teams to manage and trace requirements, BOMs and interfaces, and also to collaborate on design and testing. Valispace is the only solution here that links requirements (and components) to technical data and engineering values. Meaning that if requirement parameters change somewhere in the project, you’ll automatically see the effect that this has on the overall system.

Requirements Management for Automotive engineering


IBM Rational DOORS

IBM Rational DOORS is a widely used requirements management tool that offers a range of features such as traceability, impact analysis, and requirements management. It is used by all engineers that need to manage complex, technical projects.

Jama Software

Jama Software also has capabilities like traceability, collaboration, and impact analysis. It is well suited for engineers that need to manage large, complex projects.


ReqView offers a range of features such as traceability, collaboration, and impact analysis. It is good solution for engineers that need to manage large, complex projects and need to collaborate with remote teams.

ReqView may not be as well suited for projects with a high degree of technical complexity and may not offer all the functionalities as other more complex tools.

Helix RM

Helix RM offers traceability, collaboration, and impact analysis. It is a good option for all engineering companies and can integrate with other tools such as JIRA, Confluence, and more.

Helix RM may not be suitable for product development with a great deal of technical intricacy, and might not provide all the features that other more complete requirements tools do.

Real-time requirements management

Real-time requirements management is a key feature of modern requirements management tools like Valispace, and it can have a significant impact on risk management.

With real-time requirements management, project teams can identify and address potential issues and areas of concern as they arise, rather than waiting until later stages in the development process. This can help minimize the risk of costly delays or failures and improve overall project outcomes.

Additionally, real-time requirements management also enables better communication and collaboration among team members, which is essential for effective risk management.

Valispace and its suitability for requirements management and risk management

Valispace is a powerful requirements management tool that is well-suited for hardware development projects. It provides a range of features and capabilities that can help project teams effectively manage requirements and minimize risk. For example, it allows for real-time linking between requirements and the systems technical and engineering data, which helps identify potential issues and areas of concern early in the development process.

Additionally, Valispace also provides easy collaboration and communication among team members, which is essential for effective risk management. Furthermore, Valispace also provides features such as automated traceability, version control, and impact analysis, which makes it a comprehensive tool for risk management.

Valispace’s USP

Valispace’s unique selling point is the ability to link requirements to technical data. This feature allows teams to ensure that all requirements are linked to engineering values and that any numerical data can be read and analyzed as such, rather than as flat text data. This means that if any changes are made to your system, Valispace can automatically calculate whether this violates any of your project requirements.

Less work for your engineers, smarter insights for your project managers!

Additionally, it also allows for:

  • Concurrent engineering
  • Version control
  • Requirement traceability
  • Automatic notifcations

How to assess suitability in your project/discuss bespoke needs with Valispace

If you are interested in using Valispace for your hardware development project, it is important to assess its suitability for your specific needs. One way to do this is to book a call with the Valispace team, where you can discuss your project’s specific requirements and how Valispace can help meet them.

The team will also be able to provide you with information on how to get started with the tool, as well as access to support resources. You can also explore the platform on your own by signing up for a free trial. This will give you the opportunity to test the platform and see how it can help your project team with risk management.

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