What is a Product Requirements Document (PRD) & How to Create it?

What is a Product Requirements Document(PRD)?

A product requirements document describes the product you are about to build in detail. It outlines the purpose of building the product, its intended use case(s), features, functionalities, and the timeline of building the product. All in all, it describes an overall vision of what the team is about to build.

A product requirements document ensures that the product development team and other stakeholders (clients, partners, etc.) are on the same page about what needs to be built and are completely aware of the use case, goal, scope, features, functional requirements, challenges, and budget regarding the product.

A product requirement document provides a roadmap for the entire product team and acts as a guide they can refer to whenever they get stuck during the product development.

How to Create a Product Requirements Document(PRD)?

A typical product requirements document should involve the following details:

Target Release Date: Add the target release date for the product.

Objective: Give the context of how this project fits into the organization’s strategic goals.

Vision: Describe in detail where you want your product to be in the future.

Goals: List product goals including their time frame, and success metrics.

Initiatives: List high-level product initiatives

Persona(s): Describe who the product is for.

+Date
+Initiative
+Milestones
+Features
+Dependencies

Features: Include the features added

User Flow and design: Insert wire-frames and mock-ups.

Analytics: Key Performance Indicators (KPIs) to study

Wrap up!

The product requirements document is core to building a great product and serves as a living document for any product developer, or any other stakeholder to follow the purpose and status of the product.