What Should Be the Result of the Functional Requirements Process

question 22

Essay

What should be the result of the functional requirements process? How is this used in the selection of an ERP vendor?

---

Definitions:

Prepared Strategy

A prepared strategy is a formulated plan or set of actions designed in advance to achieve a specific goal, especially in competitive or challenging situations.

New Opportunity

A new opportunity refers to a fresh chance or prospect that has arisen, offering potential for growth, advancement, or success in personal or professional realms.

Intangibles

Non-physical factors that cannot be easily quantified, such as brand value, reputation, or employee morale.

Suboptimal Negotiation

A negotiation in which the outcomes or processes are not as good as they could be, often due to inadequate preparation or understanding.